Oyo police arrest six over fake euro notes worth N14.15m
By Adejayan Gbenga
The Oyo State Police Command has arrested six suspected counterfeit currency dealers and recovered 89 suspected fake €100 notes valued at €8,900, equivalent to about N14.15 million, in Ibadan.
The command’s Public Relations Officer, DSP Ayanlade Olayinka, disclosed this in a statement issued in Ibadan on Thursday, saying the suspects were allegedly involved in the possession, circulation and production of counterfeit euro notes.
According to him, the operation began during a township patrol around the Labo-Wesley area of Ibadan at about 7:30 p.m. Tuesday, when officers stopped three men travelling on a motorcycle and conducted a search.
The search led to the recovery of 89 suspected counterfeit €100 notes, totalling €8,900. Olayinka said the circumstances surrounding each suspect’s involvement were being subjected to further investigation.
He 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.
Olayinka added that a forensic search of the premises led to the discovery of additional exhibits suspected to have been used in producing the fake notes.
Three more suspects were subsequently arrested, including the person allegedly responsible for producing the counterfeit currency, he said.
The suspects are in police custody and cooperating with the investigation, while they will be charged to court after the conclusion of the investigation, Olayinka said. He added that the Commissioner of Police, CP Abimbola Olugbenga, commended the officers involved in the operation for their vigilance and professionalism.
