Police in Ondo have uncovered a suspected counterfeit currency production site in Odigbo Local Government Area of the state.
During the raid, one suspect was arrested and three bags of suspected fake United States dollar notes were recovered.
Police said the operation took place on October 29 at Kiniso Village, via Ajue, following investigations into a complaint by a man who allegedly received counterfeit dollars from two men during a currency exchange transaction.
State Police Public Relations Officer, DSP Abayomi Jimoh, made this known in a statement on Tuesday.
The statement said the complainant, identified as Yusuf Nasiru, reported to the police on October 28 that two men, identified as 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.
Police said the complainant handed over $6,000, valued at approximately N8.6m, to the men.
The police statement partly read, “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, 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.”
The statement added that operatives, acting on information from members of the community, raided the suspected hideout on October 29.
According to the police, “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 arrested suspect has, however, given useful information that is assisting the investigation.”
Ondo State Commissioner of Police, CP Felix Ohagwu, directed that the investigation be intensified to identify and arrest other persons allegedly connected to the operation.
Police 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.
It 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 were also advised to authenticate foreign currencies before accepting them in financial transactions and report suspicious activities to the nearest police station.
Police assured that it remained committed to combating financial and other forms of criminality in the state.
