The Ondo State Police Command has made a significant breakthrough in its fight against counterfeiting, uncovering a suspected fake dollar factory in Odigbo Local Government Area. According to the Police Public Relations Officer, DSP Abayomi Jimoh, the operation followed a complaint by Yusuf Nasiru, a resident of Sabo, Okitipupa, who reported being defrauded of $6,000 in a foreign exchange transaction. The incident occurred on October 25, 2026.
The complainant, Yusuf Nasiru, reportedly handed over $6,000, valued at approximately N8.6 million, to two men identified as Peter Desmond and Olami Toro, both residents of Ode-Irele. However, while waiting to receive the naira equivalent, the suspects allegedly returned the dollar notes, claiming they did not have enough money to complete the transaction, before leaving the shop. Nasiru later discovered that the notes returned to him were counterfeit.
The police launched an investigation into the matter and, through intelligence gathering and technical tracking, traced one of the suspects to Kiniso Village, Odigbo. On October 29, operatives of the Okitipupa Divisional Police Headquarters raided the suspected hideout, arresting one suspect while other occupants 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.
The recovered items were taken into police custody as exhibits, and the arrested suspect provided useful information to assist the ongoing investigation. The police spokesman, DSP Abayomi Jimoh, disclosed this during a press briefing on Tuesday, saying the complainant lodged the report on October 28, 2026. The incident has raised concerns about the prevalence of counterfeiting in the country.
The Commissioner of Police, Ondo State Command, CP Felix Ohagwu, has directed that investigations be intensified to identify and arrest other persons allegedly connected to the operation. The police are working to unravel the network of individuals involved in the counterfeiting operation. The suspect's arrest and the recovery of counterfeit notes are significant blows to the counterfeiters.
The Ondo State Police Command's success in uncovering the fake dollar factory is a testament to its commitment to tackling financial crimes in the state. The police have urged residents to be vigilant and report any suspicious activities to the authorities. The investigation is ongoing, and the police are expected to provide more updates as they apprehend more suspects.
The economic impact of counterfeiting can be severe, with counterfeit notes potentially destabilizing the financial system. The police's efforts to combat counterfeiting have been commended by residents, who are hopeful that the suspects will be brought to justice. The case will likely be closely watched as it unfolds.
Key points
- The Ondo State Police Command has uncovered a suspected fake dollar factory in Odigbo Local Government Area, arresting one suspect and recovering three bags of counterfeit dollar notes.
- The incident occurred on October 25, 2026, when two men allegedly defrauded Yusuf Nasiru of $6,000 in a foreign exchange transaction.
- The police have directed that investigations be intensified to identify and arrest other persons allegedly connected to the operation.
