- Paraded before journalists at the Zone 2 Command Onikan, Lagos, by Assistant Inspector-General of Police AIG Olatoye Durosinmi, the suspects were found to be distributing fake currencies to Bureau De Change operators in Nigeria and Cameroon, as well as through POS services in Nigeria
The Nigerian police have apprehended a syndicate specializing in the production of counterfeit Nigerian and Cameroonian currencies in Lagos State.
During the operation, fake N9 million and 300 million CFA notes were seized from the suspects, including Mr. Oludare Olamilekan, 50, and his wife Oluwayemisi, 46; Ilelabayo Johnson, 62, who claimed to be a retired Colonel; and Adeniyi Quadri, 35.
Paraded before journalists at the Zone 2 Command Onikan, Lagos, by Assistant Inspector-General of Police AIG Olatoye Durosinmi, the suspects were found to be distributing fake currencies to Bureau De Change operators in Nigeria and Cameroon, as well as through POS services in Nigeria.
AIG Durosinmi revealed that the arrests resulted from intelligence reports about the hideout of Adeniyi Quadri, who allegedly printed and supplied the counterfeit currencies.
The Zonal Monitoring Unit, led by DSP Adeyemi Akeem, conducted a discreet investigation, leading to the raid on Quadri’s residence on February 3, 2024. During the operation, a printing machine used for counterfeiting, along with Three Hundred Million CFA and Nine Million Naira in suspected counterfeit notes, were recovered.
“Adeniyi Quadri confessed to have been in the business of currency counterfeiting for over three years , he also named his cohort who he supplies for circulation.
“His confession led to the arrest of Oludare Oluwayemisi and Oludare Olamilekan who are couple and partners in the crime.
” The arrested couple also confessed to the crime which led to the arrest of one Ilelabayo Johnson , an ex-Military personnel who resides at 3 Ilelabayo close, Isoto via Ajasa Compound, Lagos State.
“During his arrest, his house and premises were searched and some suspected counterfeit local and foreign currencies were recovered in his possession.
”All the arrested suspects confessed to various roles in the process of committing this offence. Efforts have been intensified to apprehend other fleeing members”, he stated.
During interrogation, Quadri, revealed that he was paid N10,000 to print N1 million fake N1,000 notes.
He said “I am paid N10,000 to print 1000 pieces of fake N1,000 note. Already, I have printed about N9 million before my arrest.. I was paid N50,000 to do the job.
“I was introduced into the business by Olamilekan Oludare, about five years ago. He comes to me four times in a year. Aside, printing fake notes, I do other printing jobs but my biggest client is Olamilekan” Quadri confessed.
On his part, Olamilekan admitted being the owner of the fake N9 million that was found on them by the police.
He said, ” We sell sell some of the fake foreign currencies to Bureau De Change operators while my wife who is a POS operator gives out some of the fake naira notes to customers”
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