Operatives of the Ondo State Police Command have uncovered a suspected counterfeit currency printing operation in Kiniso Village, near Ajue, in the Odigbo Local Government Area of the state, arresting one suspect and recovering three bags of suspected fake United States dollar notes.
The arrested suspect was identified as Peter Desmond, while police also recovered other materials believed to be connected to the alleged illegal operation.
The Police Public Relations Officer, DSP Abayomi Jimoh, disclosed this in a statement made available to journalists in Akure on Tuesday.
According to Jimoh, the case began on October 28, 2026, when one Yusuf Nasiru, a resident of Sabo, Okitipupa, reported that two men, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, had approached him at his shop on October 25, requesting to exchange US dollars for their naira equivalent.
The complainant reportedly handed over $6,000, valued at approximately N8.6m, to the men for the transaction.
However, while waiting to receive the naira equivalent, the suspects allegedly returned the dollar notes, claiming they lacked sufficient funds to complete the exchange, before leaving the shop.
Nasiru later discovered, upon closer examination, that the notes returned to him were counterfeit, prompting him to report the incident to the police.
Following the complaint, operatives from the Okitipupa Divisional Police Headquarters launched a discreet investigation to track down those involved.
Jimoh said intelligence gathering and technical tracking led investigators to Peter Desmond, who was traced to Kiniso Village, near Ajue, in Odigbo Local Government Area.
On October 29, 2026, police operatives raided the suspected hideout, which was believed to be used for producing and printing counterfeit dollar notes intended to defraud unsuspecting members of the public.
The operation resulted in Desmond’s arrest, while other occupants of the premises reportedly escaped through a perimeter fence.
A search of the property led to the recovery of three bags containing suspected counterfeit US dollar notes and a small wooden box, which were taken into police custody as exhibits.
The police spokesperson added that the arrested suspect was assisting investigators with useful information as efforts continued to unravel the alleged counterfeit currency operation and apprehend other suspects.
