A suspected fake dollar printing centre has been uncovered by police operatives in Ondo State, leading to the arrest of one man.
The operation took place in Kiniso Village, near Ajue, in Odigbo Local Government Area. Police also recovered three bags of suspected counterfeit US dollar notes.
The discovery followed a complaint by a man who allegedly lost $6,000 in a fake currency exchange deal involving two suspects.
The Police Public Relations Officer, DSP Abayomi Jimoh, confirmed the development in a statement released to journalists in Akure on Tuesday.
Jimoh said Yusuf Nasiru, a resident of Sabo, Okitipupa, reported the incident on October 28, 2026. He alleged that Peter Desmond and Olami Toro approached his shop on October 25.
The two men reportedly offered to exchange US dollars for their naira equivalent. Nasiru said he handed them $6,000, valued at approximately ₦8.6 million.
However, the suspects allegedly returned the dollar notes, claiming they lacked enough money to complete the transaction.
Nasiru later examined the money and discovered that the returned notes were suspected counterfeits. He then reported the matter to the police.
Following the complaint, officers at the Okitipupa Divisional Headquarters began investigations. Intelligence gathering and technical tracking reportedly led them to Desmond in Kiniso Village.
On October 29, police operatives raided the suspected hideout, believed to be used for producing fake dollar notes and during the operation, officers arrested Desmond.
However, other occupants reportedly escaped through the perimeter fence.
A search of the property led to the recovery of three bags containing suspected counterfeit US dollars, officers also seized a small wooden box as an exhibit.
According to Jimoh, the arrested suspect is assisting investigators with information. Police are continuing efforts to uncover other people connected to the alleged operation.
