Police Raid Suspected Fake Dollar Site in Ondo

The Ondo State Police Command has uncovered a suspected counterfeit currency production site in Odigbo Local Government Area of the state, arresting one suspect and recovering three bags of suspected fake United States dollar notes.

The operation was carried out on October 29 at Kiniso Village, via Ajue, following an investigation into a complaint by a man who allegedly received counterfeit dollars during a currency exchange transaction.

The State Police Public Relations Officer, DSP Abayomi Jimoh, disclosed this in a statement issued on Tuesday.

According to the statement, the complainant, identified as Yusuf Nasiru, reported to the police 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 US dollars for their naira equivalent.

Jimoh said Nasiru handed over $6,000, valued at approximately ₦8.6 million, to the men.

“However, while waiting to receive the naira equivalent, the suspects allegedly returned the dollars to him, claiming that they did not have sufficient funds to complete the transaction, and subsequently left,” the statement read.

It added that the complainant later discovered that the dollar notes returned to him were counterfeit after examining them more closely.

He subsequently reported the incident to the police, prompting operatives from the Okitipupa Divisional Headquarters to begin discreet investigations.

The statement said intelligence gathering and technical tracking led the police to one of the suspects, Peter Desmond, at Kiniso Village, via Ajue, in Odigbo Local Government Area.

Acting on information from 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 the perimeter fence.

“A search of the premises led to the recovery of three bags containing suspected counterfeit United States dollar notes and a small wooden box, all of which were taken into police custody as exhibits.

“The arrested suspect has however given useful information that is assisting the investigation,” the PPRO said.

Counterfeit foreign currency remains a concern for security agencies in Nigeria, particularly in fraudulent exchange schemes.

Earlier this year, the Nigeria Security and Civil Defence Corps arrested suspects linked to counterfeit dollars worth hundreds of thousands of dollars in other states.

In November 2025, the Lagos State Police Command also recovered batches of fake US dollar notes during similar operations.

Meanwhile, the Commissioner of Police in Ondo State, CP Felix Ohagwu, has directed that the investigation be intensified to identify and arrest other people allegedly connected to the operation.

The command said the investigation would also establish the extent of the suspected counterfeit currency network and ensure that anyone found culpable was brought to justice.

It warned members of the public against engaging in suspicious foreign currency transactions with unverified individuals or accepting seemingly attractive exchange deals 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 said it remained committed to combating financial and other forms of criminal activity in the state.