The Oyo State Police Command has arrested six suspected counterfeit currency dealers and recovered 89 fake €100 notes valued at €8,900, equivalent to approximately ₦14.15 million, in Ibadan.
The command’s Public Relations Officer, DSP Ayanlade Olayinka, disclosed this in a statement issued in Ibadan on Thursday.
According to Olayinka, the suspects were allegedly involved in the possession, circulation and production of counterfeit euro notes.
He said the operation began at about 7:30 p.m. on Tuesday during a township patrol around the Labo-Wesley area of Ibadan.
Police operatives reportedly stopped three men travelling on a motorcycle and conducted a search, leading to the recovery of 89 suspected counterfeit €100 notes totalling €8,900.
“A search conducted on them led to the recovery of 89 pieces of suspected counterfeit €100 notes, totalling €8,900,” Olayinka said.
He added that the circumstances surrounding each suspect’s involvement were being investigated.
The police spokesperson said further investigation allegedly led the suspects to confess and take investigators to the location where the counterfeit currency was reportedly obtained.
A forensic search of the premises subsequently led to the discovery of additional exhibits suspected to have been used in producing the fake notes, he said.
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Olayinka disclosed that three additional suspects were later arrested, including the person allegedly responsible for producing the counterfeit currency.
The six suspects are currently in police custody and are cooperating with investigators. They will be charged to court after the conclusion of the investigation, according to the police.
The Commissioner of Police in Oyo State, CP Abimbola Olugbenga, commended the officers involved in the operation for their vigilance and professionalism.
