The Oyo State Police Command has arrested six suspected members of a counterfeit currency syndicate and recovered 89 suspected fake €100 notes valued at €8,900.
The suspects were apprehended following a patrol operation by police operatives around the Labo–Wesley area of Oyo State.
According to a statement issued on Thursday by the Command’s Police Public Relations Officer, DSP Ayanlade Olayinka, the suspects were intercepted at about 7:30 p.m. on September 1, 2026, while travelling on a motorcycle.
A search of the suspects reportedly led to the recovery of 89 pieces of suspected counterfeit €100 notes.
The police identified some of the suspects as Tijani Saheed, 50, who was allegedly found with the suspected fake currency; Oni Oladapo, 67, who was allegedly responsible for supplying the notes; Adebayo Saheed, 52, and Hammed Karemu, 25, the motorcycle rider.
The Command said the exact roles played by each of the suspects were still being established through ongoing investigations.
Following leads obtained during the investigation, police operatives reportedly traced the suspected source of the counterfeit currency to a location where the notes were allegedly purchased.
A forensic search of the premises led to the discovery of materials suspected to have been used in producing the counterfeit notes, as well as the arrest of the alleged producer. This brought the total number of suspects in police custody to six.
The police said all the suspects remained in custody and were cooperating with investigators.
“Upon conclusion of the investigation, the suspects will be charged to court for prosecution in accordance with the law,” the Command stated.
The Commissioner of Police in Oyo State, CP Abimbola Ayodeji Olugbenga, commended the officers involved in the operation for their vigilance and professionalism.
He reiterated the Command’s commitment to dismantling criminal networks and protecting residents, businesses and the wider economy from financial and economic crimes.
The police also urged members of the public to remain vigilant and report suspicious activities to the Oyo State Call Response Centre on toll-free line 615, or the Police Control Room on 08081768614 and 07055495413.
