The police have uncovered a suspected fake dollar production factory in Ondo State, recovering three bags of counterfeit United States dollar notes and arresting one suspect.
The operation, carried out in Kiniso Village, via Ajue, in Odigbo Local Government Area, followed a complaint by a man who allegedly received fake $6,000 from two men during a currency exchange deal.
The Ondo State Police Command said the raid took place on October 29, following investigations into the alleged fraud reported by the victim, identified as Yusuf Nasiru.
According to the police, Nasiru reported on October 28 that two men, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, had approached him at his shop on October 25 to exchange dollars for their naira equivalent.
The complainant allegedly handed over $6,000, worth approximately N8.6 million, to the men.
However, the suspects reportedly returned the dollar notes, claiming they could not raise enough money to complete the transaction, before leaving.
Nasiru later discovered that the notes were counterfeit and reported the incident to the police.
The Police Public Relations Officer, DSP Abayomi Jimoh, disclosed in a statement on Tuesday that operatives immediately launched an investigation and eventually traced one of the suspects, Desmond, to Kiniso Village.
Acting on intelligence and information from residents, the operatives raided the suspected hideout on October 29.
One suspect was arrested during the operation, while other occupants reportedly escaped through the perimeter fence.
A search of the premises led to the recovery of three bags containing suspected counterfeit US dollar notes and a small wooden box.
The police said the arrested suspect had provided useful information to assist the ongoing investigation.
The Commissioner of Police, CP Felix Ohagwu, has ordered an intensified investigation to track down the fleeing suspects and other persons allegedly linked to the operation.
The command said it was working to uncover the extent of the suspected counterfeit currency network and bring all those involved to justice.
It also warned residents against suspicious foreign exchange transactions with unverified individuals, urging members of the public to authenticate foreign currencies before accepting them.
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