POLICE UNCOVER FAKE DOLLAR FACTORY IN ONDO, ARREST ONE

The Ondo State Police Command has uncovered a suspected counterfeit dollar production facility in Odigbo Local Government Area, arresting one suspect and recovering three bags of suspected fake United States dollar notes.

The operation took place on October 29, 2026, at Kiniso Village, via Ajue, following investigations into an alleged foreign exchange fraud involving $6,000, valued at approximately ₦8.6 million.

According to the police, the investigation began after a trader, identified as Yusuf Nasiru of Sabo, Okitipupa, reported that two men, Peter Desmond and Olami Toro, had approached him on October 25 with a proposal to exchange US dollars for their naira equivalent.

Nasiru reportedly handed over $6,000 to the men. However, they later claimed they could not complete the transaction and returned the dollar notes before leaving.

Upon examining the money more closely, the trader allegedly discovered that the notes were counterfeit and immediately reported the incident to the police.

Following intelligence gathering and technical tracking, operatives from the Okitipupa Divisional Police Headquarters traced one of the suspects to a suspected hideout in Kiniso Village.

During the raid, police arrested 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 dollar notes and a small wooden box believed to be connected to the alleged operation.

The arrested suspect, identified as Peter Desmond, is reportedly providing useful information to assist the investigation.

The Commissioner of Police in Ondo State, CP Felix Ohagwu, has directed officers to intensify investigations, track down the fleeing suspects and identify other individuals connected to the suspected counterfeiting network.

The police also warned residents against engaging in suspicious foreign currency transactions with unverified individuals, urging members of the public to authenticate dollar notes before accepting them.

The discovery highlights the growing concerns surrounding counterfeit foreign currencies and fraudulent exchange transactions, with authorities urging Nigerians to remain cautious when conducting currency deals outside recognised channels.