Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
What began as a routine township patrol in Ibadan ended in the dismantling of a counterfeit currency network, as operatives of the Oyo State Police Command intercepted three men on a motorcycle and uncovered 89 pieces of fake €100 notes valued at €8,900, equivalent to about N14.15 million. The arrest, which took place on Tuesday, September 1, 2026, at about 7:30 p.m. around the Labo–Wesley area of Ibadan, has led to the apprehension of six suspects allegedly involved in the possession, circulation, and production of counterfeit Euro currency.
The Police Public Relations Officer of the Oyo State Command, DSP Olayinka Ayanlade, confirmed the development in a statement on Thursday, September 3, 2026. He said operatives on township patrol intercepted three men travelling on a motorcycle and, upon searching them, recovered 89 pieces of suspected counterfeit €100 notes. The suspects initially arrested at the scene were Tijani Saheed, 50, who was found in possession of the suspected counterfeit currency; Oni Oladapo, 67, alleged to have supplied the money; Adebayo Saheed, 52, the second passenger on the motorcycle; and Hammed Karemu, 25, the motorcycle rider.
During interrogation, the suspects reportedly confessed to the crime and led police operatives to the location where the counterfeit currency was allegedly purchased. A forensic sweep of the premises resulted in the recovery of exhibits suspected to have been used in the production of the fake notes, as well as the arrest of the alleged producer. This brought the total number of suspects arrested in connection with the case to six.
All six suspects are currently in police custody and cooperating with investigators, according to DSP Ayanlade. He added that they would be charged to court upon the conclusion of the investigation. The Commissioner of Police, Oyo State Command, CP Abimbola Ayodeji Olugbenga, commended the operatives for their vigilance and professionalism, assuring members of the public that the command remained committed to disrupting criminal networks and protecting residents and legitimate businesses from economic and financial crimes.
The operation highlights the growing challenge of counterfeit currency in Nigeria, where criminal syndicates have increasingly turned to producing fake foreign notes to defraud unsuspecting victims and businesses. The recovery of the counterfeit Euros is a significant victory for the Oyo State Police Command, demonstrating the effectiveness of intelligence-led patrols and the importance of community vigilance in combating financial crimes. As the investigation continues, the police have urged members of the public to report suspicious activities through the appropriate channels.
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