Ondo: Police Raid Fake Dollar Factory, Recover Three Bags Of Counterfeit Notes

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

The operation followed a complaint by a resident of Sabo, Okitipupa, identified as Yusuf Nasiru, who allegedly lost $6,000, estimated at N8.6 million, during a foreign exchange transaction involving two men.

The Police Public Relations Officer, DSP Abayomi Jimoh, disclosed this during a press briefing on Tuesday, stating that the complainant reported the incident on October 28, 2026.

According to Jimoh, the incident occurred on October 25 when two men, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, approached Nasiru at his shop to exchange United States dollars for their naira equivalent.

He said Nasiru handed over $6,000 to the men, who allegedly returned the dollar notes after claiming they did not have sufficient naira to complete the transaction.

However, the complainant reportedly discovered that the notes returned to him were counterfeit, prompting him to report the incident to the police.

Jimoh said operatives attached to the Okitipupa Divisional Police Headquarters immediately commenced investigations and, through intelligence gathering and technical tracking, traced one of the suspects to Kiniso Village in Odigbo.

He explained that the operatives raided the suspected hideout on October 29 following credible intelligence provided by members of the community.

“During the operation, one suspect was arrested, while other occupants of the premises reportedly escaped through the perimeter fence,” he said.

A search of the premises reportedly led to the recovery of three bags containing suspected counterfeit United States 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 police spokesman added that the Commissioner of Police in Ondo State, CP Felix Ohagwu, had directed that investigations be intensified to identify and arrest other persons allegedly connected to the operation.

The command said efforts were ongoing to apprehend the fleeing suspects and unravel the full extent of the alleged counterfeiting operation.