The Ondo State Police Command has uncovered a suspected counterfeit US greenback manufacturing facility in Odigbo Native Authorities Space, following an investigation into an alleged international forex trade fraud involving $6,000, valued at roughly ₦8.6 million.
Police confirmed that one suspect was arrested throughout a raid on the premises, whereas a number of different people reportedly escaped.
The command’s spokesperson, Deputy Superintendent of Police Abayomi Jimoh, disclosed the event in an announcement issued on Tuesday in Akure, the Ondo State capital.
In line with Jimoh, the operation adopted a grievance by a businessman who alleged that people posing as forex trade clients had changed his real greenback notes with counterfeit payments.
How the Alleged $6,000 Dollar Trade Fraud Occurred
The incident reportedly started on October 25, 2026, when two males recognized as Peter Desmond and Olami Toro visited a store belonging to Yusuf Nasiru within the Sabo space of Okitipupa Native Authorities Space.
In line with the police, the guests approached Nasiru with a proposal to trade United States {dollars} for Nigerian naira.
Nasiru reportedly handed over $6,000, price roughly ₦8.6 million on the worth cited by the police.
Nonetheless, whereas the businessman was ready to obtain the naira equal, the boys allegedly knowledgeable him that they didn’t manage to pay for to finish the transaction.
They subsequently returned what seemed to be his greenback notes and left the premises.
The complainant later examined the returned forex and allegedly found that the notes have been counterfeit.
He reported the incident to the police on October 28, prompting an investigation.
Police Monitor Suspect to Odigbo Village
Following the grievance, detectives connected to the Okitipupa Divisional Police Headquarters started investigating the alleged fraud.
Jimoh stated officers used intelligence gathering and technical monitoring to hint Desmond to Kiniso Village, close to Ajue, in Odigbo Native Authorities Space.
Info obtained from group members reportedly helped investigators establish the suspected hideout.
On October 29, police operatives raided the premises and found what they described as a facility used for producing counterfeit United States greenback notes.
One suspect was arrested throughout the operation.
Different people on the location allegedly fled by climbing over the perimeter fence earlier than they may very well be apprehended.
Three Luggage of Suspected Fake Dollar Notes Recovered
Throughout a search of the premises, investigators recovered three luggage containing suspected counterfeit US greenback notes.
A small picket field was additionally recovered and brought into police custody.
The objects have been retained as displays for the continuing investigation.
Police didn’t disclose the whole face worth of the suspected counterfeit notes or present an in depth stock of the gear allegedly used on the facility.
The command additionally didn’t set up in its assertion whether or not the arrested particular person had been formally charged in courtroom.
Jimoh stated the suspect had supplied info thought of helpful to investigators.
The police are persevering with efforts to determine the circumstances surrounding the alleged operation and establish different people who could have been concerned.
Police Warn Residents Towards Unverified Dollar Transactions
The Ondo State Police Command urged residents to train warning when exchanging international forex, notably when coping with people whose identities or enterprise credentials can’t be verified.
Jimoh suggested members of the general public to make use of recognised and authorised international trade channels fairly than coming into into suspicious transactions with unknown individuals.
He additionally inspired residents to look at international forex fastidiously earlier than accepting it.
The command urged anybody who encounters suspected counterfeit notes or suspicious forex dealings to report the matter promptly to the closest police station.
The investigation stays ongoing, and the allegations in opposition to the suspects are topic to the result of police inquiries and any subsequent judicial proceedings.
