The Ondo State Police Command has discovered a suspected counterfeit currency production site in Odigbo Local Government Area of the state. The operation, which took place on October 29, resulted in the arrest of one suspect and the recovery of three bags of suspected fake United States dollar notes. According to the State Police Public Relations Officer, DSP Abayomi Jimoh, the command received a complaint from a man who allegedly received counterfeit dollars from two men during a currency exchange transaction.
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. Nasiru handed over $6,000, valued at approximately N8.6m, to the men. However, the suspects allegedly returned the dollars to him, claiming that they did not have sufficient funds to complete the transaction, and subsequently left.
Nasiru later discovered that the dollar notes returned to him were counterfeit, prompting him to report the incident to the police. The police commenced discreet investigative activities, tracing one of the suspects, Peter Desmond, to Kiniso Village, via Ajue, in Odigbo Local Government Area. The operatives raided the suspected hideout on October 29, arresting one suspect and recovering three bags containing suspected counterfeit United States dollar notes.
The arrested suspect has given useful information that is assisting the investigation. The police also recovered a small wooden box, which was taken into police custody as an exhibit. The Commissioner of Police, Ondo State Command, CP Felix Ohagwu, has directed that the investigation be intensified to identify and arrest other persons allegedly connected to the operation.
The command said the investigation would also seek to establish the extent of the suspected counterfeit currency network and ensure that anyone found culpable was brought to justice. The police have cautioned members of the public against engaging in suspicious foreign currency transactions with unverified individuals or accepting seemingly attractive exchange deals outside recognised and authorised channels.
Residents are also advised to authenticate foreign currencies before accepting them in financial transactions and report suspicious activities to the nearest police station. The command remains committed to combating financial and other forms of criminality in the state. This incident is not an isolated case, as security agencies have recorded multiple seizures of fake foreign notes in recent months.
The Nigeria Security and Civil Defence Corps and the Lagos State Police Command have also made similar seizures in other states. The police are working to curb the menace of counterfeit currency, which is often used in fraudulent exchange schemes. The public is urged to be vigilant and report any suspicious activities to the authorities.
Key points
- The Ondo State Police Command has uncovered a suspected counterfeit currency production site, arresting one suspect and recovering three bags of fake US dollar notes.
- The investigation is ongoing, with the police seeking to establish the extent of the suspected counterfeit currency network.
- The public is advised to be cautious when engaging in foreign currency transactions and to report suspicious activities to the authorities.
