The Oyo State Police Command has arrested six suspects and recovered 89 counterfeit €100 notes valued at €8,900, estimated at about N14.15 million, during an operation in Ibadan.
The suspects are allegedly involved in the possession, production and circulation of counterfeit euro notes, according to the command’s Public Relations Officer, DSP Ayanlade Olayinka.
Olayinka disclosed this in a statement released in Ibadan on Thursday, saying the operation began during a township patrol around the Labo-Wesley area of Ibadan at about 7:30 p.m. on Tuesday.
According to him, police operatives stopped three men travelling on a motorcycle during the patrol and conducted a search, leading to the recovery of 89 suspected counterfeit €100 notes totalling €8,900.
He said the circumstances surrounding the involvement of each suspect were being subjected to further investigation.
The police spokesperson said further investigation led to the suspects allegedly confessing to the offence and taking investigators to the location where the counterfeit currency was reportedly obtained.
He added that a forensic search of the premises led to the discovery of additional exhibits suspected to have been used in the production of the fake notes.
Olayinka said three more suspects were subsequently arrested, including the person allegedly responsible for producing the counterfeit currency.
“The suspects are currently in police custody and cooperating with the investigation. They will be charged to court after the conclusion of the investigation,” he said.
The Commissioner of Police in Oyo State, CP Abimbola Olugbenga, commended the officers involved in the operation for their vigilance and professionalism.
The police said investigations are continuing to establish the individual roles of the six suspects and determine the full extent of the alleged counterfeit currency operation.
The suspects remain presumed innocent until proven guilty by a court of law.
