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…one suspect arrested
…three bags of fake currency recovered
The Ondo State Police Command has uncovered a suspected counterfeit currency printing operation in Kiniso Village, via Ajue, Odigbo Local Government Area of the State.
The operation led to the arrest of one suspect and the recovery of three bags of suspected counterfeit United States dollar notes and other materials believed to be connected to the illicit activity.
Police Public Relations Officer (PPRO) of the command, DSP Abayomi Jimoh disclosed this in a Tuesday statement.
The statement reads, “The breakthrough followed a complaint lodged on 28th October 2026 by one Yusuf Nasiru ‘M’ of Sabo, Okitipupa, who reported that two men, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, had approached him at his shop on 25th October 2026, requesting to exchange United States dollars for their naira equivalent.
“According to the complainant, he handed over the sum of $6,000 (Six Thousand United States Dollars), valued at approximately ₦8,600,000 (Eight Million, Six Hundred Thousand Naira), 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 complainant later discovered, upon closer examination, that the dollar notes returned to him were counterfeit, prompting him to report 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.
“Acting on credible intelligence received from members of the community, operatives proceeded to the identified location on 29th October 2026, where they raided the suspected hideout believed to be used for the production and printing of counterfeit dollar notes intended to defraud unsuspecting members of the public.
“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, all of which were taken into police custody as exhibits.”
The police spokesman said the arrested suspect has however given useful information that is assisting the investigation.
Meanwhile, the Commissioner of Police, Ondo State Command, CP Felix Ohagwu, has directed that the investigation be intensified to identify and apprehend all other persons connected to the criminal operation, unravel the full extent of the suspected counterfeit currency network and ensure that all those found culpable are brought to justice.
The command cautioned members of the public against engaging in suspicious foreign currency transactions with unverified individuals or persons offering seemingly attractive exchange deals outside recognised and authorised channels.
“Residents are also advised to carefully authenticate foreign currencies before accepting them in any financial transaction and promptly report suspicious activities to the nearest police station.
“The Ondo State Police Command remains resolute in its commitment to protecting lives and property, combating financial and other forms of criminality, and ensuring that criminal elements have no safe haven in the State.
“Further developments will be communicated as the investigation progresses,” the statement reads in part.
