The Ondo State Police Command has uncovered a suspected illegal factory used for printing counterfeit United States Dollar notes in Odigbo Local Government Area of the state.
The command recovered three bags of suspected fake currency and arrested one suspect.
The discovery was made on Oct. 29 during a police raid on a suspected hideout at Kiniso Village, via Ajue, following investigations into a reported foreign currency fraud involving $6,000.
The police said the operation followed a complaint lodged on Oct. 28 by Yusuf Nasiru of Sabo, Okitipupa, who alleged that two men, identified as Peter Desmond and Olami Toro, had defrauded him in a Dollar-to-Naira exchange transaction.
According to the complainant, the two men approached his shop on Oct. 25 and requested to exchange US Dollars for their Naira equivalent.
He reportedly handed over $6,000, estimated at N8.6 million, to the men. However, after claiming they could not provide the Naira equivalent, the suspects allegedly returned the dollars and left.
The complainant later discovered that the notes returned to him were counterfeit and subsequently reported the incident to the police.
In a statement issued on Tuesday, the Police Public Relations Officer, DSP Abayomi Jimoh, said operatives of the Okitipupa Divisional Headquarters launched an investigation and used intelligence gathering and technical tracking to trace one of the suspects to Kiniso Village.
“Acting on credible intelligence received from members of the community, operatives proceeded to the identified location on Oct.29, where they raided the suspected hideout believed to be used for the production and printing of counterfeit Dollar notes intended to defraud unsuspecting members of the public,” the statement said.Order Calendars
The police disclosed that one suspect was arrested during the raid, 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 US Dollar notes and a small wooden box, which were taken into police custody as exhibits.
The arrested suspect, according to the police, has provided useful information to assist ongoing investigations.
The Commissioner of Police, Ondo State Command, CP Felix Ohagwu, has directed that investigations be intensified to apprehend other persons connected to the operation and unravel the full extent of the suspected counterfeit currency network.
The command urged members of the public to exercise caution when engaging in foreign currency transactions, particularly with unverified individuals offering attractive exchange deals outside recognised and authorised channels.
It also advised residents to authenticate foreign currencies before accepting them and report suspicious activities to the nearest police station.