ONDO POLICE UNCOVER SUSPECTED FAKE DOLLAR FACTORY, ARREST ONE

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By ‘Balogun Ibrahim

The Ondo State Police Command has uncovered a suspected counterfeit currency production site in Odigbo Local Government Area, arresting one person and recovering three bags of suspected fake United States dollar notes.

The command said the operation was carried out on October 29 at Kiniso Village, via Ajue, following an investigation into a complaint by a man who allegedly received counterfeit dollars from two individuals during a currency exchange transaction.

The Police Public Relations Officer, DSP Abayomi Jimoh, disclosed this in a statement issued on Tuesday.

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According to the statement, the complainant, identified as Yusuf Nasiru, reported to the police on October 28 that two men, Peter Desmond and Olami Toro, both residents of Ode-Irele, had approached him at his shop on October 25 to exchange US dollars for their naira equivalent.

Jimoh said Nasiru handed over $6,000, estimated at about N8.6m, to the men.

However, while waiting to receive the naira equivalent, the suspects allegedly returned the dollars, claiming they lacked sufficient funds to complete the transaction, before leaving the premises.

The complainant reportedly discovered later, after examining the notes more closely, that the dollars were counterfeit and subsequently alerted the police.

The statement said operatives from the Okitipupa Divisional Police Headquarters immediately launched an investigation and, through intelligence gathering and technical tracking, traced one of the suspects, Desmond, to Kiniso Village in Odigbo.

Acting on information provided by community members, the operatives raided the suspected hideout on October 29.

During the operation, one suspect was arrested, while other occupants of the premises reportedly escaped through the perimeter fence.

A search of the property led to the recovery of three bags containing suspected counterfeit US dollar notes and a small wooden box, which were taken into police custody as exhibits.

The police spokesman added that the arrested suspect had provided useful information to assist the ongoing investigation.

Meanwhile, the Commissioner of Police in Ondo State, CP Felix Ohagwu, has directed that the investigation be intensified to identify and apprehend other individuals allegedly linked to the operation.

The command said investigators would also work to establish the scale of the suspected counterfeit currency network and ensure that anyone found culpable was brought to justice.

It warned residents against engaging in suspicious foreign exchange transactions with unverified individuals or accepting unusually attractive deals outside recognised and authorised channels.

Members of the public were also advised to authenticate foreign currencies before accepting them and report suspicious activities to the nearest police station.

The command reaffirmed its commitment to tackling financial crimes and other criminal activities across the state.