The Ondo State Police Command has uncovered a suspected counterfeit dollar printing operation in Odigbo Local Government Area of the state and arrested one suspect.
The police spokesperson in the state, Abayomi Jimoh, disclosed this in a statement on Tuesday.
Mr Jimoh, a deputy superintendent of police, said operatives recovered three bags containing suspected counterfeit United States dollar notes and other materials believed to be connected to the illicit activity.
He said the operation followed a complaint lodged on October 28, 2026, by Yusuf Nasiru of Sabo, Okitipupa, who reported 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 dollars for naira.
According to the police, the complainant handed over $6,000, valued at about N8.6 million, to the men. While waiting to receive the naira equivalent, the suspects allegedly returned the dollars to him, claiming they did not have sufficient funds to complete the transaction, and left.
He said the complainant later discovered the returned notes were counterfeit and reported to the police.
“Upon receipt of the complaint, the 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,” Mr Jimoh said.
He said, acting on credible intelligence from members of the community, operatives raided the suspected hideout on October 29, where they discovered the suspected factory.
“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,” he said.
The Commissioner of Police, Ondo State Command, Felix Ohagwu, has directed that the investigation be intensified to identify and apprehend all other persons connected to the operation.
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Mr Ohagwu also directed operatives to unravel the full extent of the suspected counterfeit currency network and ensure all those found culpable are brought to justice.
The command cautioned members of the public against engaging in suspicious foreign currency transactions with unverified individuals or persons offering attractive exchange deals outside recognised and authorised channels.
It advised residents to authenticate foreign currencies before accepting them and to promptly report suspicious activities to the nearest police station.
“The Ondo State Police Command remains resolute in its commitment to protecting lives and property, combating financial and other forms of criminality, and ensuring that criminal elements have no safe haven in the State. Further developments will be communicated as the investigation progresses,” the statement said.
