By Paul Joseph
The Ondo State Police Command has uncovered a suspected counterfeit dollar production factory in Odigbo Local Government Area, arresting one suspect and recovering three bags of suspected fake United States dollar notes and other materials linked to the illegal operation.
The discovery followed an investigation into an alleged $6,000 fraud involving a fraudulent foreign currency exchange transaction, which reportedly cost a resident of Okitipupa about N8.6 million.
The complainant, identified as Yusuf Nasiru, a resident of Sabo, Okitipupa, reportedly lodged a formal complaint at the Okitipupa Divisional Police Headquarters on October 28, 2026.
He 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 with a proposal to exchange United States dollars for their naira equivalent.
According to the complaint, Nasiru handed over $6,000 to the men but was later told that they lacked sufficient funds to complete the transaction.
The suspects allegedly returned the dollar notes to him before leaving the shop. However, upon examining the currency, the complainant discovered that the notes were counterfeit and subsequently reported the incident to the police.
Following the report, operatives of the Okitipupa Divisional Police Headquarters commenced investigations, using intelligence gathering and technical tracking to locate one of the suspects.
The police said their investigation led them to Kiniso Village, via Ajue, in Odigbo Local Government Area, where Peter Desmond was allegedly traced to a suspected hideout.
Acting on intelligence provided by members of the community, the operatives raided the location on October 29, 2026.
The operation reportedly exposed a suspected facility used for producing and printing counterfeit United States dollar notes for fraudulent activities.
One suspect was arrested during the raid, while other occupants of the premises reportedly escaped through the perimeter fence.
A subsequent search of the premises led to the recovery of three bags containing suspected counterfeit dollar notes and a small wooden box believed to be connected to the operation.
The police said investigations were ongoing to identify and apprehend the fleeing suspects and establish the full extent of the alleged counterfeiting operation.
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