Posted by Chinenye on Tue 03rd Nov, 2026 - tori.ng
A suspected fake dollar business has been uncovered in Ondo State, leaving one person in police custody and others on the run.
(Exhibit. photo CREDIT: Ondo Police Command)
Police in Ondo State have uncovered a suspected fake dollar operation in Odigbo Local Government Area and arrested one man.
Three bags of suspected counterfeit US dollar notes were recovered.
The search took place on October 29 at Kiniso Village, via Ajue.
It followed a complaint from a man named Yusuf Nasiru, who said two men exchanged dollars with him at his shop on October 25.
He handed over $6,000, worth about 8.6 million naira.
The men then gave the money back, saying they did not have enough naira to complete the deal.
Only later did he find the dollars were fake.
Police traced one of the suspects, Peter Desmond, to the village.
When officers raided the hideout, one man was arrested, but others ran away through the fence.
The bags of fake notes and a small wooden box were taken as evidence.
The suspect is reportedly helping the investigation.
The Ondo Police Commissioner, Felix Ohagwu, has ordered a wider search for others linked to the scheme.
Police are warning people not to deal in foreign currency with unverified individuals or outside authorised channels, and to check foreign notes before accepting them.