The Police in Ondo State has dismantled a hidden facility used for manufacturing counterfeit American dollars in Kiniso Village, located within the Odigbo Local Government Area of the state.
The operation led to the recovery of three bags filled with fake dollar bills and a small wooden box used in the illicit process, following an investigation into an alleged $6,000 currency fraud targeting a businessman in Okitipupa.
The crackdown was triggered by an incident on October 25, when two men—identified as Peter Desmond and Olami Toro—approached a local trader, Yusuf Nasiru, at his shop in Sabo, Okitipupa, proposing a foreign exchange transaction.
Nasiru handed over $6,000 (valued at approximately N8.6 million) to the men. However, the duo returned the cash stack shortly after, claiming they could not secure enough naira to finalize the exchange. It was only after their departure that Nasiru realized the returned bills were counterfeit. He reported the scam to the Okitipupa Divisional Police Headquarters on October 28.
Acting on intelligence provided by local community members, detectives tracked the trail from Ajue to a remote property in Kiniso Village on October 29.
During the tactical raid, several suspects escaped by scaling the perimeter fence. However, officers successfully arrested one suspect and seized the bags containing fake dollar notes along with production equipment.
Confirming the operation in an official statement on Tuesday, November 3, the Police Public Relations Officer, DSP Abayomi Jimoh, disclosed that the suspect in custody is supplying crucial information to aid ongoing investigations.
”The Commissioner of Police, CP Felix Ohagwu, has directed detectives to intensify efforts to track down the fleeing suspects, identify all key players, and uncover the full scale of the counterfeiting syndicate,” DSP Jimoh stated.
In light of the incident, the Ondo State Police Command has urged the public and business operators to avoid illegal, unverified foreign exchange dealings with unknown persons. Residents are strongly advised to verify foreign currency through authorized channels, warning that enticing black-market exchange rates often serve as bait for fraud.
