Four suspects, among whom was a couple, have been arrested by operatives of the Zone 2 Police Command, Onikan-Lagos for money counterfeiting running to several millions.
The suspects, Oludare Olamilekan, 50 and his 46-year-old wife, Oluwayemisi, Adeniyi Quadri, 35, and Ilelabayo Johnson, 62, ran out of luck following a credible information and investigation conducted by DSP Adeyemi Akeem-led team of the Zonal Monitoring Unit (ZMU).
The team busted the syndicate by swooping on the hideout of Adeniyi Quadri, at his No. 11 Alof street residence on Lagos Island, leading to the subsequent arrest of other members of the gang.
Exhibits recovered from the syndicate comprised a currency printing machine, 180 Million Camerounian CFA, suspected to be counterfeit, fake Nine Million Nigerian currency, all in one thousand naira denomination, and other currencies worth millions of Naira, all suspected to be counterfeited.
Parading the foursome at the Zone 2 Police Command Headquarters, the Assistant Inspector-General of Police in charge of the zone, AIG Olatoye Durosinmi, said they
specialized in remodeling naira, pound, dollar and CFA notes.
According to the AIG, Adeniyi Quadri, the arrowhead of the syndicate, specialized in the act of counterfeiting different currencies and supplying same to his allies, spread across different locations, including Cameroon.
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He said Quadri's arrest led to the apprehension of other members of the syndicate.
The Police Boss revealed that Ilelabayo Johnson, an ex-military personnel, was arrested at his residence on No.3 Ilelabayo Close, Isoto via Ajasa Compound, Lagos State, and upon search of the premises, some suspected counterfeited local and foreign currencies were recovered in his possession.
Fielding questions from journalists, apparently remorseful Quadri, confessed to have been in the business of currency counterfeiting for over three years.
All the suspects confessed to the various roles they played in the process of committing the alleged crime.
The AIG hinted that efforts are on top gear to apprehend other fleeing members of the syndicate, and warned criminals to desist from crime, saying the long arm of the law would definitely catch up with them.
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