By Our Reporter
The Ondo State Police Command has uncovered a suspected counterfeit currency production centre in Odigbo Local Government Area, arresting one suspect and recovering three bags of suspected fake United States dollar notes.
The operation, which took place on October 29 at Kiniso Village, via Ajue, followed an investigation into an alleged fraud involving two men who reportedly exchanged counterfeit dollars for naira.
The Police Public Relations Officer, DSP Abayomi Jimoh, disclosed this in a statement issued on Tuesday.
According to the police, the investigation began after a man identified as Yusuf Nasiru reported that two men, Peter Desmond and Olami Toro, both residents of Ode-Irele, allegedly defrauded him during a currency exchange transaction.
Jimoh said Nasiru reported that the two men visited his shop on October 25 and offered to exchange US dollars for their naira equivalent.
The complainant reportedly handed over $6,000, estimated at N8.6m, to the suspects.
However, while waiting to receive the naira equivalent, the two men allegedly returned the dollars, claiming they did not have enough money to complete the transaction, before leaving.
Nasiru later discovered that the dollar notes returned to him were counterfeit and subsequently reported the incident to the police on October 28.
Following the complaint, operatives attached to the Okitipupa Divisional Headquarters commenced investigations and deployed intelligence gathering and technical tracking to locate the suspects.
The police said their investigation led them to Peter Desmond, who was traced to Kiniso Village, via Ajue, in Odigbo LGA.
Acting on information provided by members of the community, the operatives raided the suspected hideout on October 29.
During the operation, one suspect was arrested, while other occupants of the premises reportedly escaped through a perimeter fence.
A search of the property led to the recovery of three bags containing suspected counterfeit US dollar notes and a small wooden box.
The recovered items were taken into police custody as exhibits, while the arrested suspect was said to have provided useful information to assist the ongoing investigation.
The Commissioner of Police in Ondo State, CP Felix Ohagwu, has directed that the investigation be intensified to track down other suspects allegedly connected to the operation.
The command said efforts were ongoing to establish the extent of the suspected counterfeit currency network and ensure that all those found culpable were brought to justice.
It warned members of the public against engaging in suspicious foreign exchange transactions with unverified individuals or accepting seemingly attractive exchange offers outside recognised and authorised channels.
Residents were also advised to authenticate foreign currencies before accepting them in financial transactions and report suspicious activities to the nearest police station.
The command reaffirmed its commitment to combating financial crimes and other criminal activities across the state.