Police find fake dollar factory in Ondo, arrest one suspect

The Ondo State Police has found a suspected place where fake money is made in Odigbo Local Government Area. They arrested one person and recovered three bags of fake United States dollar notes.

The police said the operation happened on October 29 at Kiniso Village, near Ajue. This followed a complaint from a man who claimed he got fake dollars from two men during a money exchange.

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

The complainant, named Yusuf Nasiru, told the police on October 28 that two men, Peter Desmond and Olami Toro, both living in Ode-Irele, came to his shop on October 25 to change US dollars to naira.

Jimoh said the complainant gave them $6,000, worth about ₦8.6 million.

“While waiting to get the naira, the suspects gave back the dollars, saying they did not have enough money to finish the exchange, and then they left,” the statement said.

It continued, “Later, the complainant checked the dollars and found out they were fake. This made him report to the police.

“After receiving the complaint, the officers from Okitipupa Divisional Headquarters quickly started a quiet investigation.

“Using intelligence and tracking, they traced one of the suspects, Peter Desmond, to Kiniso Village, near Ajue, in Odigbo Local Government Area.”

The statement mentioned that the officers, acting on tips from community members, raided the suspected hideout on October 29.

“During the operation, they arrested one person, while others at the place ran away through the fence.

“A search of the place led to the recovery of three bags with suspected counterfeit US dollar notes and a small wooden box. All these items were taken into police custody as evidence.

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

Counterfeiting money, especially US dollars used in fraud, is a big problem in Nigeria. Recently, security agencies have seized many fake foreign notes.

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

In November 2025, the Lagos State Police Command found batches of fake USD notes in similar scams.

Meanwhile, the Commissioner of Police in Ondo State, CP Felix Ohagwu, has ordered a deeper investigation to find and arrest others involved in this case.

The police said the investigation would also try to find out how big the counterfeit money network is and ensure that anyone guilty is punished.

They warned the public against doing suspicious foreign currency transactions with unverified people or accepting attractive exchange deals outside proper channels.

Residents were also advised to check foreign currencies before accepting them in transactions and to report any suspicious activities to the nearest police station.

The police said they are committed to fighting financial crimes and other criminal activities in the state.