Police Bust Counterfeit Currency Ring in Ibadan, Seize €8,900 in Fake €100 Notes
Police Bust Counterfeit Currency Ring in Ibadan, Seize €8,900 in Fake €100 Notes
The Oyo State Police Command has arrested six suspects linked to the possession, circulation and alleged production of counterfeit Euro currency, following a successful patrol operation by operatives of the Command.
On 1 September 2026, at about 7:30 p.m., operatives on township patrol around the Labo–Wesley area intercepted three men travelling on a motorcycle. A search conducted on them led to the recovery of 89 pieces of suspected counterfeit €100 notes, with a total face value of €8,900.
The suspects were identified as Tijani Saheed, 50, who was found in possession of the suspected counterfeit currency; Oni Oladapo, 67, who is alleged to have supplied the money; Adebayo Saheed, 52, who was the second passenger on the motorcycle; and Hammed Karemu, 25, the motorcycle rider. The circumstances surrounding the involvement of each suspect are being subjected to further investigation.
During investigation, the suspects confessed to the commission of the crime and led operatives to the location where the suspected 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 counterfeit notes and the arrest of the alleged producer, bringing the total number of suspects arrested in connection with the case to six.
