The Oyo State Police Command has arrested six suspects over alleged involvement in the production, possession and circulation of counterfeit Euro notes in Ibadan.
The suspects were apprehended during a police patrol operation around the Labo-Wesley area of Ibadan, the state capital, on September 1, 2026.
According to the Command’s spokesperson, DSP Olayinka Ayanlade, the incident occurred at about 7:30pm when police operatives on township patrol stopped three men travelling on a motorcycle.
A search conducted on the suspects reportedly led to the recovery of 89 pieces of suspected counterfeit €100 notes valued at €8,900.
The police identified the suspects as Tijani Saheed, 50, who was allegedly found with the suspected fake currency; Oni Oladapo, 67, who allegedly supplied the notes; Adebayo Saheed, 52, another passenger on the motorcycle; and Hammed Karemu, 25, the motorcycle rider.
The Command said investigations were ongoing to establish the individual roles of the suspects in the alleged operation.
Police said the suspects reportedly provided information that led investigators to the location where the suspected counterfeit currency was allegedly obtained.
A subsequent forensic search of the premises reportedly resulted in the recovery of materials suspected to have been used in producing the fake notes.
The operation also led to the arrest of an alleged producer of the counterfeit currency, bringing the total number of suspects in police custody to six.
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The Command said the suspects remained in custody and were assisting investigators with the ongoing probe.
They are expected to be charged to court after the completion of the investigation.
The Commissioner of Police in Oyo State, CP Abimbola Ayodeji Olugbenga, commended the officers for their vigilance and professionalism.
He assured residents and business owners that the Command would continue its efforts to disrupt criminal networks involved in economic and financial crimes.
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