The Ondo State Police Command has uncovered a suspected counterfeit US dollar printing factory in Kiniso Village, near Ajue, in Odigbo Local Government Area, arresting one suspect and recovering three bags of suspected fake dollar notes.
The operation followed a complaint by a resident of Sabo, Okitipupa, who alleged that two men defrauded him of $6,000, worth about N8.6 million, during a foreign exchange transaction.
According to the police, the victim reported the incident on October 28. He said two men, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, approached his shop on October 25 and asked to exchange US dollars for their naira equivalent.
The complainant said he handed them $6,000. However, while waiting for the naira payment, the men allegedly returned the dollars, claiming they did not have enough money to complete the deal, before leaving.
He later discovered that the notes they returned were counterfeit and reported the matter to the police.
In a statement on Tuesday, the Police Public Relations Officer, DSP Abayomi Jimoh, said officers at the Okitipupa Divisional Headquarters began discreet investigations immediately after receiving the complaint.
He explained that intelligence gathering and technical tracking led officers to Desmond at Kiniso Village.
Acting on information from community members, police operatives raided the suspected hideout on October 29, where the alleged counterfeit currency operation was taking place.
“During the operation, one suspect was arrested, while other occupants of the premises reportedly escaped through the perimeter fence,” the statement 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 police seized the items as exhibits.
Jimoh said the arrested suspect had provided useful information to support the ongoing investigation.
The Commissioner of Police, Felix Ohagwu, has directed officers to intensify efforts to arrest the other suspects, uncover the full extent of the alleged counterfeit currency network and prosecute anyone found responsible.
The command also warned residents against suspicious foreign exchange deals with unverified individuals. It urged the public to authenticate foreign currency before accepting it and report suspicious activities to the nearest police station.
