A currency exchange deal that went sour has led the Ondo State Police Command to what it describes as a suspected counterfeit dollar production site in Kiniso Village, via Ajue, in Odigbo Local Government Area. One suspect is in custody, and officers say they recovered three bags filled with notes believed to be fake United States dollars.
The command's spokesman, DSP Abayomi Jimoh, gave details of the operation in a statement released on Tuesday, November 3, according to Naija News.
How the $6,000 deal reportedly went wrong
Police say the case began with a complaint from a man identified as Yusuf Nasiru. He reportedly told officers on October 28 that two men had tricked him three days earlier, on October 25, when they came to his shop to change dollars into naira.
The two men were named by the police as Peter Desmond and Olami Toro, both said to live in Ode-Irele. According to the police account, Nasiru gave the pair $6,000, worth roughly ₦8.6 million, as part of the transaction.
Rather than paying out the naira, the men allegedly handed the dollar notes back, saying they could not raise enough cash to finish the deal. Nasiru reportedly realised afterwards that the bills returned to him were not genuine, and he went straight to the police.
The raid in Kiniso Village
Detectives attached to the Okitipupa Divisional Police Headquarters took up the case. Police say they relied on intelligence work and technical tracking to follow one of the named men, Peter Desmond, to Kiniso Village.
With tips from residents of the community, officers stormed the suspected hideout on October 29. One person was arrested on the spot, but others who were inside the building reportedly fled by climbing over the perimeter fence.
A search of the premises turned up three bags of suspected counterfeit US dollar notes, along with a small wooden box. The items have been kept by the police as exhibits. Police also say the arrested suspect has given information that is helping the investigation, though the person's identity was not disclosed in the statement.
CP orders manhunt for others
The Ondo State Commissioner of Police, CP Felix Ohagwu, has directed officers to step up the probe and go after everyone allegedly linked to the operation. The command says the investigation will also try to determine how large the suspected fake currency network is, so that anyone found to be involved can face prosecution.
Police warning to residents
The command used the case to caution people in the state against forex deals with strangers, especially offers that look too sweet and come from outside approved and recognised channels. Residents were urged to confirm that any foreign currency is genuine before collecting it, and to report suspicious dealings at the nearest police station.
The police added that they remain committed to fighting financial crimes and other offences across Ondo State. For traders and bureau de change operators, the message is simple: check every note before the deal is done.
