Oyo Police Arrest Six Over Alleged Counterfeit Euro Currency

The Oyo State Police Command has arrested six people suspected of involvement in the possession, production and circulation of counterfeit euro currency in Ibadan. Police said 89 suspected fake €100 notes, with a face value of €8,900 and an estimated value of about ₦14.15 million, were recovered during the operation.

According to the command’s spokesperson, DSP Ayanlade Olayinka, the operation began during a township patrol around the Labo-Wesley area of Ibadan at about 7:30 p.m. Officers reportedly stopped three men travelling on a motorcycle and conducted a search, leading to the discovery of the suspected counterfeit notes. The circumstances surrounding each suspect’s alleged involvement are still being investigated.

Police said further investigation led officers to the location where the currency was allegedly obtained. A forensic search of the premises reportedly resulted in the recovery of additional exhibits believed to be connected to the suspected counterfeit operation. Three more suspects were subsequently arrested, including a person police identified as being allegedly responsible for producing the fake currency.

The command said the six suspects are currently in police custody and are cooperating with investigators. Authorities are working to establish the full extent of the alleged operation and determine whether additional individuals may have been involved. The Commissioner of Police in Oyo State, CP Abimbola Olugbenga, reportedly commended the officers involved for their vigilance and professionalism.

The suspects are expected to be charged before a court after the conclusion of the investigation, according to the police. The allegations against them have not been proven in court, and the suspects remain entitled to due process as investigators establish the facts surrounding the case.