Police operatives in Ondo State have uncovered a suspected counterfeit United States dollar production facility in Kiniso Village, via Ajue, in Odigbo Local Government Area, arresting one suspect and recovering three bags of suspected fake dollar notes.
The operation followed an investigation into an alleged fraudulent foreign exchange transaction in which a man reportedly lost $6,000, estimated at approximately ₦8.6 million, after being deceived by two individuals during a currency exchange deal.
According to information released by the Ondo State Police Command, the incident was reported by a man identified as Yusuf Nasiru, who alleged that two suspects, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, approached his shop on October 25 to exchange dollars for their naira equivalent.
Nasiru reportedly handed over $6,000 to the men during the transaction. However, rather than completing the payment in naira, the suspects allegedly returned the dollar notes, claiming they did not have sufficient funds to conclude the exchange.
The two men subsequently left the premises, but the complainant later discovered that the dollar notes returned to him were counterfeit. He immediately reported the incident to the police on October 28, prompting an investigation into the alleged fraud.
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The Police Public Relations Officer, DSP Abayomi Jimoh, disclosed that operatives attached to the Okitipupa Divisional Police Headquarters commenced investigations and deployed intelligence gathering and technical tracking methods to identify and locate the suspects.
The investigation reportedly led officers to Kiniso Village, where one of the suspects, Peter Desmond, was traced to a suspected hideout.
Acting on credible information provided by members of the community, police operatives stormed the location on October 29. During the operation, one suspect was apprehended, while other occupants of the premises allegedly escaped through a perimeter fence.
A subsequent search of the property reportedly led to the recovery of three bags containing suspected counterfeit United States dollar notes, alongside a small wooden box. The recovered items were taken into police custody as exhibits for further investigation.
The police further disclosed that the arrested suspect had provided useful information that could assist investigators in uncovering additional details about the alleged operation.
Meanwhile, the Commissioner of Police in Ondo State, CP Felix Ohagwu, has directed the immediate intensification of investigations to identify and apprehend other individuals allegedly connected to the suspected counterfeit currency operation.
The police chief also ordered investigators to establish the full extent of the suspected network and ensure that all persons found culpable are brought to justice.
The command cautioned residents against engaging in suspicious foreign exchange transactions with unverified individuals, particularly those offering seemingly attractive deals outside recognised and authorised channels.
Residents were also urged to carefully verify the authenticity of foreign currencies before accepting them and promptly report suspicious financial activities to the nearest police station.
The Ondo State Police Command reaffirmed its commitment to combating financial crimes and other criminal activities, assuring residents that efforts would continue to strengthen security and protect the public from fraudulent schemes.
Source:IReporter online
