Lagos: Police arrest couples, ex- military personnel, others for printing counterfeit currency

Police operatives of Zone 2 command, Onikan, Largos, Friday paraded a couples , ex- military personnel and currency counterfeit syndicates who specialized in printing of fake currency of different countries inside their room in Lagos.

The suspected syndicates were identified as Adeniyi Quadri, 35; Oludare Olamilekan , 50; Oludamilare Oluwakemi, 46 and Ilelabayo Johnson, 62.

The exhibits recovered from them were 1 currency printing machine; one hundred and eighty million Cameroonian CFA suspected to be counterfeit currency; 9 million naira; one thousand naira denominations suspected to be counterfeit.

While parading the suspects, the Assistant Inspector General of Police, AIG, Olatoye Durosimi, in charge of zone 2, Onikan Lagos, said that the command details an Intelligence team on the hideout of one Adeniyi Quadri, who specializes in counterfeiting different currencies and onward supply of same to his allies.

He said that the O/C Zonal Monitoring Unit, CSP, Tijani Taofiq detailed DSP. Adeyemi Akeem and team to discretely investigate.

He explained that when the team swung into action and on of February 3, 2024. The hideout of one Adeniyi Quadri, of No. 11 Alof street, Lagos Island was invaded where the suspect was arrested and a printing machine he uses in printing security threads on all sorts of counterfeited currencies of cash sum of three hundred million CFA and Nine Million Naira all suspected to be counterfeit were recovered in his possession

According to him, Adeniyi Quadri, confessed to have been in the business of currency counterfeiting for over three years and also named his cohort who he supplies for circulation.
Meanwhile 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 Ex-Military personnel who resides at No.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 and all the arrested suspects confessed to various roles in the process of committing this offence while efforts have intensified to apprehend fleeing members.”

Johnson, an Ex- military personnel confessed that he takes counterfeit currencies from one Alfa (late) and passes to Adeniyi Quadri for fixing and printing of the security thread after which he sells to one Alidu (also late) who in turn disburses to some BDC operators in Agege Lagos.