Operatives of the Ondo State Police Command have uncovered a suspected centre where fake US dollars were being produced in Odigbo Local Government Area of the state.
During the operation, the police arrested one suspect and recovered three bags filled with fake US dollar notes.
The operation followed a complaint by a businessman in Okitipupa, Yusuf Nasiru, who reportedly lost $6,000, worth about N8.6 million, after falling victim to a fake currency deal.
According to the report, two men visited Nasiru's shop on October 25 and approached him for a dollar-to-naira exchange. However, the men later returned fake dollar notes to him, claiming they wanted to cancel the transaction.
Following the complaint, officers from the Okitipupa Divisional Police Headquarters began an investigation using intelligence gathering and tracking methods.
Their efforts led them to a suspected hideout in Kiniso Village, near Ajue, where the fake currency operation was allegedly taking place.
During the raid, the police arrested one suspect, while other members of the group escaped by jumping over the fence.
A search of the premises led to the recovery of three bags containing fake dollar notes and a small wooden box believed to have been used for the operation.
Confirming the development in a statement on Tuesday, the Police Public Relations Officer, DSP Abayomi Jimoh, said the arrested suspect was helping the police with useful information as investigations continued.
Meanwhile, the Ondo State Commissioner of Police, Felix Ohagwu, has ordered a manhunt for the fleeing suspects.
He also warned members of the public to be careful when carrying out foreign currency transactions and to avoid deals that have not been properly verified.
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