The Ondo State Police Command has discovered a suspected site for counterfeit currency production in the Odigbo Local Government Area, apprehending one individual and seizing three bags of suspected counterfeit U.S. dollar bills.
The statement indicated that the operation occurred on October 29 in Kiniso Village, through Ajue, after inquiries into a complaint from a man who reportedly received fake dollars from two individuals during a currency exchange.
The Public Relations Officer of the State Police, DSP Abayomi Jimoh, revealed this in a statement released on Tuesday.
The complainant, known as Yusuf Nasiru, informed the police on October 28 that on October 25, two men, identified as Peter Desmond and Olami Toro, both living in Ode-Irele, had approached him at his shop to trade US dollars for their naira equivalent.
Jimoh stated that the complainant gave $6,000, worth roughly N8.6m, to the individuals.
“While waiting for the naira equivalent, the suspects reportedly gave back the dollars to him, stating that they lacked enough funds to finalize the deal, and then departed,” the statement said.
It stated, “The complainant subsequently found, after further investigation, that the returned dollar notes were fake, leading him to notify the authorities about the incident.
“Following the complaint’s receipt, agents from Okitipupa Divisional Headquarters promptly initiated covert investigative measures.”
“By means of intelligence collection and technical surveillance, the team located one of the suspects, Peter Desmond, in Kiniso Village, passing through Ajue, in the Odigbo Local Government Area.”
The announcement mentioned that the operatives, responding to tips from community members, stormed the alleged hideout on October 29.
“During the operation, one individual was apprehended, while other residents of the property allegedly fled through the surrounding fence.”
A search of the location resulted in the retrieval of three bags with suspected fake United States dollar bills and a small wooden box, all of which were placed in police custody as evidence.
“The detained suspect has, nonetheless, provided valuable information that is aiding the inquiry,” the PPRO stated.
The counterfeiting of currency, particularly US dollars involved in deceptive exchange operations, continues to be a persistent issue throughout Nigeria. In the past few months, security agencies have documented several confiscations of counterfeit foreign currency.
Earlier this year, the Nigeria Security and Civil Defence Corps apprehended individuals associated with counterfeit dollars amounting to hundreds of thousands of dollars in various states.
In November 2025, the Lagos State Police Command seized groups of counterfeit USD bills during related scam activities.
At the same time, the Commissioner of Police for Ondo State Command, CP Felix Ohagwu, instructed that the probe be enhanced to find and apprehend additional individuals supposedly linked to the operation.
The directive indicated that the inquiry would also aim to determine the scale of the alleged counterfeit money operation and make sure that anyone deemed responsible was held accountable.
It warned the public to avoid participating in dubious foreign currency transactions with unverified persons or accepting seemingly appealing exchange offers outside of recognized and sanctioned avenues.
Residents were urged to verify foreign currencies prior to accepting them in financial dealings and to report any suspicious activities to the closest police station.
The command stated it continues to be dedicated to fighting against financial and other types of crime in the state.
The command stated it continues to be dedicated to fighting against financial and other types of crime in the state.
