Operatives of the Zone 2 of the Lagos Police command,Onikan have arrested four persons including a couple for printing and distributing fake money in Lagos and Cameroon.
The suspects were identified as: Adeniyi Quadri, Oludare Oluwayemisi, Oludare Olamilekan, and Ilelaboye John.
The suspects, who were paraded on friday by the Assistant Inspector General of Police in charge of the zone, Olatoye Durosinmi reportedly printed millions of naira and CFA, which they spent in Cameroon.
Fake nine million naira and three hundred CFA were recovered from the suspects, who were reportedly arrested in Lagos Island.
One of the suspects, Quadri told newsmen that he was paid N10,000 to print one million fake N1,000 notes.
The suspect added that he was recruited into the syndicate by Olamilekan Oludare who, according to him, is the head of the syndicate in Lagos Island
“I am paid N10,000 to print 1000 pieces of fake N1,000 notes. Already, I have printed about N9 million before my arrest. I was paid N50,000 to do the job,” the suspect said.
He added; ” I was introduced into the business by Olamilekan Oludare about five years ago. He comes to me four times a year aside from printing fake notes, I do other printing jobs but my biggest client is Olamilekan,” Quadri confessed.
“We sell some of the fake foreign currencies to Bureau the change operators while my wife who is a POS operator also hands out some of the fake naira notes to customers,” he added.
Olamilekan confessed that his wife helped in the distribution of the fake foreign currencies among Bureau De Change operators.
The team swung into action and on February 3, 2024, the hideout of one Adeniyi Quadri of No. 11 Alof Street, Lagos Island was invaded where Adeniyi Quadri was arrested. A printing machine used in printing security threads on all sorts of counterfeited currencies was recovered along with fake cash of three hundred million CFA and nine million Naira. All suspected to be counterfeit were recovered in his possession.
AIG Durosinmi said; “Adeniyi Quadri confessed to having been in the business of currency counterfeiting for over three years and 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 police boss also stated; “The arrested couple also confessed to the crime which led to the arrest of one Ilelabayo Johnson’ an ex-Military personnel who resides at No.3 Ilelabayo close, Isoto via Ajasa Command Lagos.
“During his arrest, his house and premises were searched and some suspected counterfeit local and foreign currencies were recovered in his possession.”
AIG Durosinmi claimed; “All the arrested suspects confessed to various roles in the process of committing this offence.
“Efforts are intensified to apprehend fleeing members”.
