The Ondo State Police Command has uncovered a suspected counterfeit currency production site in Odigbo Local Government Area of the state, arresting one suspect and recovering three bags of suspected fake United States dollar notes.
The command said the operation took place on October 29 at Kiniso Village, via Ajue, following investigations into a complaint by a man who allegedly received counterfeit dollars from two men during a currency exchange transaction.
The State Police Public Relations Officer, DSP Abayomi Jimoh, disclosed this in a statement issued on Tuesday.
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, valued at approximately ₦8.6 million, to the men.
“However, while waiting to receive the naira equivalent, the suspects allegedly returned the dollars to him, claiming that they did not have sufficient funds to complete the transaction, and subsequently left,” the statement read.
The statement added that the complainant later discovered that the returned dollar notes were counterfeit after examining them more closely.
He subsequently reported the incident to the police.
“Upon receipt of the complaint, the operatives from Okitipupa Divisional Headquarters immediately commenced discreet investigative activities.
“Through intelligence gathering and technical tracking, the team traced one of the suspects, Peter Desmond, to Kiniso Village, via Ajue, in Odigbo Local Government Area.”
The statement said the operatives raided the suspected hideout on October 29 after receiving information from members of the community.
During the operation, one suspect was arrested, while other occupants of the premises reportedly escaped through the perimeter fence.
A search of the premises led to the recovery of three bags containing suspected counterfeit United States dollar notes and a small wooden box.
The items were taken into police custody as exhibits.
The police spokesperson said the arrested suspect had provided useful information to assist the investigation.
Meanwhile, the Commissioner of Police in Ondo State, CP Felix Ohagwu, directed that the investigation be intensified to identify and arrest other persons allegedly connected to the operation.
The command said the investigation would also establish the extent of the suspected counterfeit currency network and ensure that anyone found culpable was brought to justice.
It cautioned members of the public against engaging in suspicious foreign currency transactions with unverified individuals or accepting attractive exchange deals outside recognised and authorised channels.
Residents were also advised to authenticate foreign currencies before accepting them in financial transactions and report suspicious activities to the nearest police station.
The command said it remained committed to combating financial and other forms of criminality in the state.