Parading the suspects before journalists in Osogbo, the state Commissioner of Police, Mr Fimihan Adeoye said the suspects were picked up in Osun, Kogi, and Lagos states.
Printing materials and other accessories used for the illegal printing of the currency were also displayed before the media, saying they were also selling and spending the currencies which were in different denominations.
According to Adeoye, another suspected herbalist, who also specialised in printing foreign currencies was also nabbed for swindling his client.
Giving details on how the suspects were apprehended, the Police boss said the operation that was carried out by ‘Police Special Patrol Team’ in Ife, Osun State about a month ago culminated in the arrest of someone with fake currency during ‘Stop and Search Operation’
This development Fimihan explained led the Police to the place where the counterfeit currencies were being printed and Police detectives were successful in arresting the man who owns the printing press.
He stated, “In the course of the investigation, search warrant was executed which made it possible for us to recover other fake currencies at the printing press that is located in Lagos”, adding that we arrested five suspects, the first person was arrested in Osun, further investigation led to the arrest of another person in Ife, Lokoja and Lagos.
Adeoye, however, stated that, the police collaborated with the Central Bank of Nigeria (CBN) to move the machines and other equipment’s used by the syndicate for their illicit activities.
While saying investigation was still ongoing to find out of if the suspects were having other accomplices, Adeoye said, “we know that this (printing fake currency) criminal act constitutes serious threat to Nigeria economy.”
Speaking on the herbalist, identified as Odediran Semiu who was arrested by Police in Apomu, Osun State, he said, “We are of the opinion that the man is a fraudster, who must have being defrauding his client. He specialized in printing fake foreign currency.
During a chat with journalists, all the suspects confessed to committing the crime, just as 52-year-old, Saheed Alabi who assisted in printing the fake currencies confirmed that he had printed millions of naira of fake currency.
He said “One man named Femi was the one who do give me the job. At a goal, for some of the printing, he do give me N5,000 as my wage. I have helped him do millions of fake currency”.
Another suspect, named as Lateef who patronized the syndicate, admitted that he bought N1.6 million at the rate of N500,000 of original currency.
Moses Jonah who also involved said, “his father had N6.5 million of fake money but he and Femi ran away with it.”
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