Police nab syndicate with fake N9m, CFA300m in Lagos

Detectives from the Zone 2 command in charge of Lagos and Ogun states have arrested a couple and two others with fake N9million and 300million CFA notes in the Lagos Island area of the metropolis.

The suspects, who were identified as Adeniyi Quadri, 35, Oludare Oluwayemisi, 46, Oludare Olamilekan, 50, and Ilelaboye Johnson, 62, are said to be members of fake currency syndicate that operates in the West Africa sub-region.

While Quadri claimed that he was paid N10,000 to print N1million fake N1,000 notes, Olamilekan admitted that his wife also helped in the distribution of the fake foreign currencies among Bureau De Change operators.

On his part, Quadri said he was recruited into the syndicate by Olamilekan Oludare, who, according to him, is the head of the syndicate in Lagos Island.

The suspects were paraded before newsmen on Friday at the headquarters of Zone 2 at Onikan.

In his confessional statement, Quadri said, “I am paid N10,000 to print 1,000 pieces of fake N1,000 note. Already, I have printed about N9million before my arrest. I was paid N50,000 to do the job.

Parading the suspects before newsmen in Lagos, Olatoye Durosinmi said the suspects were arrested based on approved intelligence report about the hideout of one Adeniyi Quadri, who he said specialised in counterfeiting different currencies.