The Ondo State Police Command has uncovered a suspected counterfeit currency production centre in Odigbo Local Government Area, arresting one suspect and recovering three bags of suspected fake United States dollar notes.
The operation, which took place on October 29 at Kiniso Village, via Ajue, followed a complaint by a businessman who allegedly received counterfeit dollars during a currency exchange transaction.
According to the Police Public Relations Officer, DSP Abayomi Jimoh, the complainant, identified as Yusuf Nasiru, reported that two men, Peter Desmond and Olami Toro, approached his shop on October 25, offering to exchange US dollars for their naira equivalent.
Nasiru reportedly handed over $6,000, estimated at about ₦8.6 million, to the men. However, after claiming they could not complete the transaction due to insufficient funds, the suspects allegedly returned the dollars and left.
The complainant later discovered that the notes were counterfeit and reported the incident to the police.
Following investigations and intelligence gathering, operatives traced one of the suspects, Peter Desmond, to a suspected hideout in Kiniso Village.
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During the raid, one suspect was arrested, while other occupants of the premises reportedly escaped through a perimeter fence.
Police said a search of the property led to the recovery of three bags containing suspected counterfeit US dollar notes and a small wooden box. The recovered items were taken into custody as exhibits.
The arrested suspect is reportedly providing useful information to assist the ongoing investigation, as the police intensify efforts to track down other individuals allegedly connected to the operation.
The Commissioner of Police in Ondo State, CP Felix Ohagwu, has directed that the investigation be expanded to uncover the suspected counterfeit currency network and bring all those involved to justice.
The police have also warned residents against suspicious foreign exchange transactions with unverified individuals, urging the public to authenticate foreign currencies and use recognised and authorised exchange channels.
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