Operatives of the Ondo State Police Command have discovered a suspected counterfeit currency printing operation in Kiniso Village, via Ajue, Odigbo Local Government Area of the State.
The operation led to the arrest of one suspect named Peter Desmond and the recovery of three bags of suspected counterfeit United States dollar notes and other materials believed to be connected to the illicit activity.
The Spokesperson of the Command, DSP Abayomi Jimoh, confirmed the arrest in an official statement issued and made available to journalists in Akure on Tuesday.
Jimoh explained that on 28th October 2026, one Yusuf Nasiru of Sabo, Okitipupa, reported to the police that two men, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, had approached him at his shop on 25th October 2026, requesting to exchange United States dollars for their naira equivalent.
According to the complainant, he handed over the sum of $6,000 valued at approximately ₦8,600,000 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 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, the operatives from Okitipupa Divisional Headquarters immediately commenced discreet investigative activities.
According to him, men of the Okitipupa Divisional Headquarters, through intelligence gathering and technical tracking, traced one of the Suspects, Peter Desmond, to Kiniso Village, via Ajue, in Odigbo Local Government Area.
The police Spokesperson revealed further that on 29th October 2026, operatives raided the suspected hideout believed to be used for the production and printing of counterfeit dollar notes intended to defraud unsuspecting members of the public.
He noted that one suspect was arrested during the operation, while the 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.
Jimoh stated that the arrested suspect has been assisting the police with useful information for further investigation into the case.