Oyo: Police arrest six, recover fake €100 notes worth N14.15m
Oyo State Police Arrest Six for Counterfeit Currency
IBADAN, Nigeria — The Oyo State Police Command has apprehended six individuals suspected of dealing in counterfeit currency, recovering 89 fake €100 notes valued at €8,900, approximately N14.15 million.
The arrest was confirmed by the command’s Public Relations Officer, DSP Ayanlade Olayinka, in a statement issued on Thursday.
Olayinka stated that the suspects are alleged to be involved in the possession, circulation, and production of counterfeit euro notes. The operation commenced during a routine patrol in the Labo-Wesley area of Ibadan at approximately 7:30 p.m. on Tuesday.
During the patrol, officers stopped three men riding a motorcycle and conducted a search. The search yielded 89 counterfeit €100 notes, totaling €8,900.
“The circumstances surrounding the involvement of each suspect are currently under further investigation,” Olayinka noted.
Following the initial arrests, further investigations reportedly led to the suspects confessing and directing investigators to the location where the counterfeit currency was obtained. A forensic search of the premises uncovered additional items believed to have been used in the production of the fake notes.
Subsequently, three more suspects were arrested, including an individual alleged to be responsible for producing the counterfeit currency.
Olayinka confirmed that all suspects are in police custody and cooperating with the investigation. They will be charged in court upon conclusion of the investigation.
The Commissioner of Police in Oyo State, CP Abimbola Olugbenga, praised the officers involved for their vigilance and professionalism during the operation.
