The Lagos Police Command has successfully apprehended four syndicates involved in counterfeit currency activities, seizing fake cash totaling One Hundred Eighty Million Cameroon CFA and Nine Million Naira.
The arrested individuals include 35-year-old Adeniyi Quadri, 50-year-old Oludare Olamilekan, 46-year-old Oludare Oluwayemisi, and 62-year-old Ilelabayo Johnson. Recovered items from the operation include One Hundred and Eighty Million Cameroonian CFA, Nine Million Naira (in One Thousand Denomination), and a suspected counterfeit currency cache worth millions, along with a currency printing machine.
The counterfeiting operation was traced to the Oluwole area in Lagos Island. Benjamin Hundeyin, the Police Public Relations Officer for the state, disclosed this information during the suspects’ parade at the state police command in Ikeja, Lagos.
Hundeyin revealed that the arrest was made based on an approved intelligence report by the Assistant Inspector General of Police, Olatoye Durosinmi, Zone 2 Command Headquarters Onikan. The report highlighted the hideout of Adeniyi Quadri, a currency counterfeiter supplying counterfeit currencies to his associates.
The O/C Zonal Monitoring Unit, CSP Tijani Taofiq, assigned DSP Adeyemi Akeem and his team to discreetly investigate the matter. On February 3, 2024, the team raided the hideout of Adeniyi Quadri, arresting him and confiscating a currency printing machine, Three Hundred Million CFA, and Nine Million Naira, all suspected to be counterfeit.
Adeniyi Quadri admitted to engaging in currency counterfeiting for over three years and implicated his accomplices. The confession led to the arrest of the couple Oludare Oluwayemisi and Oludare Olamilekan. Additionally, the couple’s admission to the crime resulted in the arrest of Ilelabayo Johnson, an ex-military personnel residing at No.3 Ilelabayo close, Isoto, via Ajasa Compound, Lagos State. Suspected counterfeit local and foreign currencies were found in his possession during the arrest.
Hundeyin confirmed that all the arrested suspects confessed to their roles in the counterfeiting process, and efforts are underway to apprehend other fleeing members of the syndicate.
