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Oyo Police Arrest Six Over Alleged Production, Circulation Of €8,900 Counterfeit Currency
Oyo Police Arrest Six Over Alleged Production, Circulation Of €8,900 Counterfeit Currency
The Oyo State Police Command has arrested six suspects over the alleged possession, circulation and production of counterfeit Euro currency in Ibadan, the state capital.
The arrests followed a township patrol operation carried out by police operatives around the Labo-Wesley area of Ibadan, where officers intercepted a motorcycle carrying three men.
According to the Police Command, the incident occurred at about 7:30pm on September 1, 2026, when the patrol team stopped the motorcycle and conducted a search of the occupants.
The search reportedly led to the recovery of 89 pieces of suspected counterfeit €100 notes, with a total face value of €8,900.
The suspects were identified by the police as Tijani Saheed, 50, who was allegedly found in possession of the suspected counterfeit currency; Oni Oladapo, 67, who allegedly supplied the money; Adebayo Saheed, 52, who was also travelling on the motorcycle; and Hammed Karemu, 25, the motorcycle rider.
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The Command said investigations were ongoing to establish the specific roles allegedly played by each of the suspects and determine how the suspected counterfeit currency entered circulation.
The police further said preliminary investigations led the suspects to allegedly provide information about the location where the suspected fake Euro notes were purchased.
Acting on the information, police operatives reportedly conducted a forensic search of the premises and recovered several items suspected to have been used in the production of counterfeit currency.
The operation also resulted in the arrest of an alleged producer of the suspected counterfeit notes, bringing the total number of suspects arrested in connection with the investigation to six.
The police said the suspects remained in custody and were cooperating with investigators as the probe continued.
The Command said the investigation would seek to establish the full extent of the alleged operation, including the source of the suspected counterfeit notes, the process through which they were allegedly produced and the possible involvement of other individuals.
The suspects are expected to be charged to court after the conclusion of the investigation, according to the police.
The development highlights the efforts of law enforcement agencies to tackle economic and financial crimes, particularly activities involving the production and circulation of suspected counterfeit currency.
The Commissioner of Police in Oyo State, CP Abimbola Ayodeji Olugbenga, commended the officers involved in the operation for their vigilance and professionalism.
Olugbenga assured residents and business owners that the Command would continue to intensify operations against criminal networks involved in economic and financial crimes across the state.
He also urged members of the public to remain vigilant and provide useful information to the police that could assist in identifying and disrupting criminal activities.
The Oyo Police Command advised residents to report emergencies through the Oyo State Call Response Centre toll-free line, 615, or the Command Control Room numbers 08081768614 and 07055495413.
The Command said cooperation between residents and security agencies remained important in preventing the circulation of counterfeit currency and other forms of financial crime.
Oyo Police Arrest Six Over Alleged Production, Circulation Of €8,900 Counterfeit Currency
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SERAP Sues INEC Over ₦126bn Electoral Funds, Demands Full Accountability
SERAP Sues INEC Over ₦126bn Electoral Funds, Demands Full Accountability
The Socio-Economic Rights and Accountability Project (SERAP) has sued the Independent National Electoral Commission (INEC) over its alleged failure to account for more than ₦126.46 billion allocated for electoral operations, asking the Federal High Court in Abuja to compel the commission to disclose how the public funds were spent.
The lawsuit, filed last week and marked FHC/ABJ/CS/2507/2026, followed findings attributed to the Auditor-General of the Federation’s 2023 audited report, published on August 7, 2026. The reported irregularities relate mainly to transactions carried out in 2022, with some extending into 2023.
SERAP is seeking a court order compelling INEC to provide a detailed financial and documentary account of the funds, including the amounts released and paid, the beneficiaries, the contractors involved and the beneficial owners of the companies that received the payments.
The organisation also wants the commission to provide evidence that the goods and services covered by the transactions were delivered, explain how the electoral materials were used and disclose their present location and condition.
According to SERAP, the money was intended for the procurement of ballot boxes, electoral devices, sensitive election materials, result sheets, vehicles and accreditation equipment, as well as audit services, consultancy, digital archiving and other electoral operations.
The organisation said the Auditor-General’s report raised concerns about several transactions, including more than ₦112.15 billion allegedly paid for ballot boxes, electoral devices and other materials without competitive bidding or a Certificate of No Objection from the Bureau of Public Procurement (BPP).
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SERAP said the audit findings indicated that there was no evidence that the items had been procured. It also cited concerns that contracts were awarded to companies whose competence, experience, operational capacity, addresses and factory locations were reportedly unknown.
The Auditor-General reportedly raised the possibility that the funds had been diverted and recommended their recovery. However, the allegations remain subject to verification and do not, by themselves, establish that the entire amount was stolen.
Another transaction highlighted by SERAP involved approximately ₦1.06 billion allegedly paid for Toyota Prado TXL 2021-model vehicles without the required advertisement, competitive bidding, bid evaluation or procurement clearance.
The organisation also cited more than ₦3.13 billion allegedly paid to four contractors for ballot guides, sensitive materials and result sheets before the contracts were awarded. According to SERAP, the audit raised questions about the transactions and the possibility that the money had been diverted.
A further ₦9.24 billion was reportedly paid under 22 contracts covering similar goods and services. SERAP said the Auditor-General questioned whether the contracts had been split to circumvent procurement rules and whether payments had been made for items that were not supplied.
Other transactions cited in the lawsuit included ₦129.37 million paid to 19 accounting firms for financial audit services without sufficient supporting evidence, more than ₦504 million for accreditation devices under questioned procurement arrangements, and about ₦235.1 million paid to contractors for sleeping mats and digital archiving.
SERAP wants INEC to provide documentary and physical evidence showing that the electoral materials covered by the disputed payments were actually procured. It is also asking the court to compel the commission to identify the contractors, suppliers, consultants and public officials who authorised or processed the transactions.
The organisation further wants INEC to ensure that electoral equipment and other public assets covered by the audit findings are not disposed of, transferred, destroyed or written off in ways that could frustrate investigations, transparency or the recovery of public funds.
SERAP argued that Nigerians have a right to know how money appropriated for elections was managed, particularly as the country prepares for the 2027 general elections.
It maintained that transparency in electoral spending is necessary to protect public confidence in INEC and ensure that funds allocated for credible elections are used for their intended purposes.
The organisation cited provisions of the 1999 Constitution, as amended, national anti-corruption laws and Nigeria’s obligations under the United Nations Convention against Corruption in support of its demand for accountability.
The suit was filed on SERAP’s behalf by lawyers Kolawole Oluwadare, Kehinde Oyewumi and Andrew Nwankwo.
No hearing date had been announced as of Sunday, October 18, 2026.
The case follows an earlier demand by SERAP in September, when the organisation gave INEC seven days to explain the expenditure and called for investigations into transactions flagged by the Auditor-General.
The latest legal action seeks to compel the electoral commission to provide the requested information through a court order.
SERAP Sues INEC Over ₦126bn Electoral Funds, Demands Full Accountability
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Borno Highway Blast: Soldiers Killed as Military Vehicle Hits Landmine
Borno Highway Blast: Soldiers Killed as Military Vehicle Hits Landmine
At least eight Nigerian soldiers have been killed after a military patrol vehicle struck a landmine along a highway in Borno State, north-east Nigeria.
The incident occurred on Saturday in Kinuba village, about 25 kilometres from Gamboru, near Nigeria’s border with Cameroon, according to defence sources cited by AFP.
The soldiers were reportedly travelling along the highway while inspecting members of an anti-insurgency militia involved in clearing thick vegetation beside the road when their vehicle ran over the explosive.
The blast killed all eight soldiers aboard the vehicle, while a militia member supervising the vegetation-clearing operation sustained shrapnel injuries.
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A member of the militia, Ibrahim Liman, said the explosive had been planted on the dusty road and detonated remotely.
The attack was blamed on the Islamic State West Africa Province (ISWAP), an armed group that operates in the region and has repeatedly targeted security personnel and civilians.
The highway attack came amid renewed violence in Borno, where insurgents have continued to target military formations and patrols despite ongoing counter-insurgency operations.
The incident also occurred on the day the Chief of Army Staff, Lieutenant General Waidi Shaibu, visited Maiduguri, the state capital, following a separate attack on a military base that reportedly killed 15 soldiers and five members of the Civilian Joint Task Force.
ISWAP and its rival, Boko Haram, have increasingly used improvised explosive devices and landmines against military convoys and other road users in the North-East.
The latest incident underscores the continuing security risks along major highways in Borno, where thick vegetation can provide cover for insurgents to plant explosives and launch attacks on passing vehicles.
Borno Highway Blast: Soldiers Killed as Military Vehicle Hits Landmine
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Okonjo-Iweala: My Mother Was Kidnapped After I Uncovered $2.4bn Subsidy Fraud
Okonjo-Iweala: My Mother Was Kidnapped After I Uncovered $2.4bn Subsidy Fraud
Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation (WTO), has recounted how her efforts to expose an alleged $2.4 billion fuel subsidy fraud in Nigeria were followed by threats and the kidnapping of her mother in 2012.
Okonjo-Iweala, who was Nigeria’s finance minister under former President Goodluck Jonathan, said the kidnappers demanded that she resign from office and leave the country before her mother, Kamene Okonjo, would be released.
She said the abduction, which occurred in December 2012, subjected her family to five days of anguish and forced her to confront a painful choice between her public responsibilities and her mother’s safety.
According to her account, the crisis followed an investigation into suspicious claims submitted under Nigeria’s fuel subsidy programme. The investigation reportedly uncovered about $2.4 billion in fraudulent claims, prompting the government to withhold payments on the disputed transactions.
Okonjo-Iweala said she had raised concerns about the figures with the president and requested an audit of the accounts. After approval was granted, the review uncovered what she described as substantial fraud.
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- Nairobi Mother Says Husband Abandoned Her During Childbirth, Paid Dowry for Another Woman
The former minister said the refusal to pay the disputed claims was followed by threats against her, before her mother was abducted from her home in Ogwashi-Uku, Delta State.
The kidnappers reportedly sought to pressure her into abandoning her position in government, making her resignation a condition for her mother’s release.
Okonjo-Iweala said the experience was devastating, admitting that she considered leaving office because her mother’s life was more important to her than her position.
She recalled that her father, the late Professor Chukwuka Okonjo, encouraged her not to surrender to blackmail and urged her to continue her work.
Her mother eventually escaped after spending five days in captivity, bringing the ordeal to an end.
The incident exposed the personal risks associated with efforts to investigate alleged financial abuses in Nigeria’s petroleum subsidy system, which had long been dogged by questions over payments to fuel importers and the verification of claims.
Okonjo-Iweala later became the first woman and first African to lead the WTO, taking office as Director-General in March 2021.
Okonjo-Iweala: My Mother Was Kidnapped After I Uncovered $2.4bn Subsidy Fraud
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