Police Raid Suspected Counterfeit Dollar-Printing Factory in Ondo, Arrest One Suspect

The Ondo State Police Command has uncovered a suspected counterfeit currency printing operation in Kiniso Village, near Ajue, in Odigbo Local Government Area of the state. The operation led to the arrest of one suspect identified as Peter Desmond and the recovery of three bags containing suspected counterfeit United States dollar notes. Police spokesperson, DSP Abayomi Jimoh, confirmed the development in a statement made available to journalists in Akure on Tuesday, November 3, 2026. He explained that the operation followed an investigation into a complaint involving an alleged currency exchange fraud.

According to the police, the case began when a resident of Sabo, Okitipupa, identified as Yusuf Nasiru, reported that two men, Peter Desmond and Olami Toro, 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, estimated at approximately ₦8.6 million, to the men. However, instead of completing the transaction, the suspects allegedly returned the dollar notes, claiming they did not have enough money to pay the naira equivalent. The victim later examined the returned notes and discovered that they were suspected to be counterfeit.

Following the complaint, officers attached to the Okitipupa Divisional Headquarters commenced discreet investigations using intelligence gathering and technical tracking. Their efforts reportedly led them to Kiniso Village, where one of the suspects was traced to a premises believed to be used for producing and printing counterfeit dollar notes. Police operatives raided the location on October 29, arresting Desmond, while other occupants reportedly escaped through a perimeter fence. A search of the premises led to the recovery of three bags of suspected counterfeit US dollar notes and a small wooden box, which were taken into police custody as exhibits.

The police spokesperson disclosed that the arrested suspect was assisting investigators with useful information to uncover the full circumstances surrounding the alleged operation and identify other individuals connected to it. The command is expected to continue its investigation and efforts to locate the fleeing suspects. The police also urged members of the public to exercise caution when engaging in currency exchange transactions, particularly with unfamiliar individuals, and to report suspicious financial activities to the appropriate authorities. The recovered notes remain suspected counterfeit currency pending further investigation and examination.