Operatives recover three bags of fake US dollar notes, other materials in Odigbo

The Ondo State Police Command has uncovered a suspected counterfeit currency printing operation in Kiniso Village, near Ajue, in Odigbo Local Government Area of the state, arresting one suspect and recovering three bags of suspected fake United States dollar notes.

The operation, which took place on October 29, followed an investigation into an alleged currency fraud involving $6,000, reportedly perpetrated against a businessman in Okitipupa.

The Police Public Relations Officer of the command, DSP Abayomi Jimoh, disclosed this in a statement issued on Tuesday, November 3, 2026.

According to the statement, the investigation began following a complaint lodged on October 28 by Yusuf Nasiru, a resident of Sabo, Okitipupa.

Nasiru reportedly told the police that two men, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, approached him at his shop on October 25, requesting to exchange United States dollars for their naira equivalent.

The complainant said he handed over $6,000, estimated at approximately N8.6 million, to the men. However, while waiting for the naira payment, the suspects allegedly returned the dollar notes, claiming they did not have sufficient funds to complete the transaction, before leaving.

He subsequently discovered that the dollar notes returned to him were counterfeit and reported the incident to the police.

Following the complaint, operatives of the Okitipupa Divisional Police Headquarters commenced investigations, using intelligence gathering and technical tracking to trace one of the suspects, Peter Desmond, to Kiniso Village, near Ajue, in Odigbo Local Government Area.

Acting on information provided by members of the community, the police raided the suspected hideout on October 29.

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, which were taken into police custody as exhibits.

The arrested suspect has reportedly provided useful information that is assisting ongoing investigations.

The Commissioner of Police in Ondo State, CP Felix Ohagwu, has directed operatives to intensify investigations to apprehend other persons connected to the alleged operation, unravel the extent of the suspected counterfeit currency network and bring all those found culpable to justice.

The command also warned members of the public against engaging in suspicious foreign currency transactions with unverified individuals or accepting seemingly attractive exchange offers outside recognised and authorised channels.

It urged residents to authenticate foreign currencies before accepting them in financial transactions and report suspicious activities to the nearest police station.

The police assured residents of their continued commitment to combating financial crimes and other criminal activities across the state.

The command said further developments would be communicated as the investigation progresses.