Police raid US fake dollar factory, recover three bags of counterfeit notes in Ondo

Personnel of the Nigeria Police has raided a United States Dollar factory in Odigbo Local Government in Ondo State and recover three bags of suspected fake dollar currencies.

The police said the operation was carried out on October 29, 2026 at Kiniso village, via Ajue after a man was offered fake dollars by two men during a currency exchange transaction.

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The Ondo State Police Command’s Public Relations Officer, DSP, Abayomi Jimoh disclosed this in a statement made available to journalists on Tuesday.

The complainant who identified himself as Yusuf Nasiru had lodged a complaint to the police on October 28, 2026 that two men, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, had approached him at his shop on October 25 to exchange US dollars for their naira equivalent.

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The statement said, the complainant handed over the $6,000, valued at approximately N8.6m, to the men.

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

It added, “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.

“Upon receipt of the complaint, operatives from Okitipupa Divisional Headquarters immediately commenced discreet investigative activities.

“Through intelligence gathering and technical tracking, the team traced one of the suspects, Peter Desmond, to Kiniso Village, via Ajue, in Odigbo Local Government Area.”

The statement said the operatives, acting on information from members of the community, raided the suspected hideout on October 29.

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

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

Currency counterfeiting, especially of US dollars used in fraudulent exchange schemes, remains a recurring challenge across Nigeria. In recent months, security agencies have recorded multiple seizures of fake foreign notes.

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