Ondo Police Uncover Suspected Fake Dollar Printing Factory, Arrest One Suspect

The Ondo State Police Command has uncovered a suspected counterfeit United States dollar printing factory 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 a complaint lodged on October 28 by one Yusuf Nasiru of Sabo, Okitipupa, who alleged that two men, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, approached him at his shop on October 25 requesting to exchange United States dollars for naira.

According to the police, Nasiru handed over $6,000, valued at approximately N8.6 million, to the men.

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

“The complainant later discovered, upon closer examination, that the dollar notes returned to him were counterfeit, prompting him to report the incident to the Police,” the command’s spokesperson, DSP Abayomi Jimoh, said in a statement.

Upon receipt of the complaint, operatives from the Okitipupa Divisional Headquarters commenced discreet investigations.

Through intelligence gathering and technical tracking, the team traced Peter Desmond to Kiniso Village.

“Acting on credible intelligence received from members of the community, operatives proceeded to the identified location on 29th October 2026, where they raided the suspected hideout believed to be used for the production and printing of counterfeit dollar notes intended to defraud unsuspecting members of the public,” Jimoh stated.

During the operation, one suspect was arrested while other occupants of the premises 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 taken into police custody as exhibits.

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

The Commissioner of Police, Ondo State Command, CP Felix Ohagwu, has directed that the investigation be intensified to identify and apprehend all other persons connected to the criminal operation, unravel the full extent of the suspected counterfeit currency network, and ensure that all those found culpable are brought to justice.

The command cautioned members of the public against engaging in suspicious foreign currency transactions with unverified individuals or persons offering seemingly attractive exchange deals outside recognised and authorised channels.

Residents were also advised to carefully authenticate foreign currencies before accepting them in any financial transaction and to promptly report suspicious activities to the nearest police station.