The Ondo State Police Command has uncovered a suspected counterfeit foreign currency production site at Kiniso Village, near Ajue in Odigbo Local Government Area, arresting one suspect and seizing three bags filled with fake United States dollar bills. ​The development was made public on Tuesday, November 3, 2026, following a sustained investigation triggered by a formal complaint lodged on October 28, 2026.
According to police reports, a local merchant, Yusuf Nasiru of Sabo in Okitipupa, informed authorities that two men, identified as Peter Desmond and Olami Toro of Ode-Irele, visited his shop on October 25, 2026, seeking to exchange $6,000 for approximately ₦8.6 million.
The suspects allegedly returned the foreign currency after claiming they lacked sufficient naira funds to complete the deal, but handed back counterfeit notes in place of the original bills. ​Acting on actionable intelligence, police operatives executed a targeted raid on the clandestine printing facility in Kiniso Village.
While several occupants managed to scale the perimeter fence and flee into the surrounding terrain, officers apprehended one suspect at the scene and recovered three bags containing counterfeit U.S. dollar bills alongside a small wooden box used in the illicit production process. ​
The Ondo State Commissioner of Police, CP Felix Ohagwu, has directed detectives to launch an intensified manhunt to track down all fleeing accomplices and expose the entire network behind the operation. Investigators confirmed that the suspect currently in custody is cooperating with law enforcement to provide critical leads as inquiries continue.
Meanwhile, police authorities have advised members of the public to exercise heightened caution when handling foreign currency exchanges, urging residents to avoid unauthorised traders, rely strictly on licensed bureau de change operators, and thoroughly verify all foreign notes before accepting them.
