Six people have been arrested in Ibadan, Oyo State, following the recovery of 89 suspected counterfeit €100 notes allegedly linked to a currency counterfeiting operation.
The seized notes have a combined face value of €8,900, estimated at about N14.15 million.
The Oyo State Police Command disclosed the arrests in a statement issued on Thursday by its Public Relations Officer, DSP Ayanlade Olayinka.
According to the police, the operation began on Tuesday evening when officers conducting a township patrol intercepted three men travelling on a motorcycle around the Labo-Wesley area of Ibadan at about 7:30 p.m.
A search of the suspects reportedly led to the discovery of the 89 suspected counterfeit euro notes.
“The circumstances surrounding the involvement of each suspect are being subjected to further investigation,” Olayinka said.
The investigation subsequently led police to a location where the suspects allegedly obtained the counterfeit currency. Officers carried out a forensic search of the premises and recovered additional items suspected to have been used in the production of the fake notes.
Police said the initial suspects also made confessional statements during questioning and provided information that helped investigators identify others allegedly connected to the operation.
Three additional suspects were subsequently arrested, including the person police identified as the alleged producer of the counterfeit currency.
The six suspects are currently being held by the police while investigators work to establish the extent of each individual’s involvement in the alleged possession, production and circulation of the fake euro notes.
The command said the suspects would be prosecuted after the investigation is completed.
The Commissioner of Police in Oyo State, CP Abimbola Olugbenga, commended the officers involved in the operation, praising their vigilance and professionalism.
The arrests highlight the police command’s ongoing efforts to disrupt activities involving counterfeit foreign currency and bring those allegedly responsible before the courts.
