By MUFTAU OGUNYEMI

The Police Command in Ondo State says it has busted a suspected counterfeit dollar printing factory and arrested one suspect in Odigbo Local Government Area (LGA) of the state.

DSP Abayomi Jimoh, the command’s Spokesperson, made this known in a statement on Tuesday in Akure, saying the bust followed a complaint lodged on Oct. 28 by one Yusuf Nasiru of Sabo in Okitipupa Local Government Area.

Jimoh explained that the complainant reported that two men, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, approached him in his shop on Oct. 25, requesting to exchange United States dollars for naira.

“The complainant handed over the sum of 6,000 dollars, valued at approximately N8.6 million, 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,” the spokesperson said.

Jimoh, who said the operatives from Okitipupa Divisional Headquarters commenced discreet investigation, explained that through intelligence gathering and technical tracking, Desmond was traced to Kiniso Village, via Ajue, in Odigbo LGA.

“Acting on credible intelligence from members of the community, the operatives raided the hideout on Oct. 29, where they discovered the suspected factory used for production and printing of counterfeit dollar notes."

“During the operation, one suspect was arrested while 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."

“The arrested suspect has, however, given useful information that is assisting the investigation,” he said.

The spokesperson, therefore, admonished members of the public against engaging in suspicious foreign currency transactions with unverified individuals outside recognised and authorised channels.

Jimoh advised residents to authenticate foreign currencies before accepting it and promptly report suspicious activities to the nearest police station. (NAN)