The Oyo State Police Command has arrested six suspected counterfeit currency dealers and recovered 89 pieces of fake €100 notes valued at €8,900, estimated at N14.15 million.
The Command’s Public Relations Officer, DSP Ayanlade Olayinka, disclosed this in a statement issued on Thursday in Ibadan.
According to Olayinka, the suspects were allegedly involved in the possession, circulation and production of counterfeit euro currency.
He said the arrests followed a successful township patrol conducted by police operatives on Tuesday at about 7:30 p.m. around the Labo-Wesley area of Ibadan.
He explained that the operatives intercepted three men travelling on a motorcycle during the patrol.
“A search conducted on them led to the recovery of 89 pieces of suspected counterfeit €100 notes, totalling €8,900.
“The circumstances surrounding the involvement of each suspect are being subjected to further investigation,” he said.
Olayinka said the suspects allegedly confessed during interrogation and subsequently led police operatives to the location where the counterfeit currency was reportedly purchased.
He added that a forensic search of the premises led to the recovery of items suspected to have been used in the production of the counterfeit notes.
The police spokesperson further disclosed that three additional suspects, including the alleged producer of the counterfeit currency, were arrested in connection with the case.
He said the suspects were currently in police custody and cooperating with investigators, adding that they would be charged to court upon completion of the investigation.
Olayinka said the Commissioner of Police in Oyo State, CP Abimbola Olugbenga, commended the operatives for their vigilance and professionalism, while urging officers and members of the public to remain alert to activities capable of undermining the integrity of the nation’s financial system.
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