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