By Oghenekevwe Laba, Lagos
Lagos State Police Command has uncovered two Illegal currency printing factories which specialized in producing different fake notes of various denominations both in local and foreign currencies they are distributed within Nigeria and other African countries.

The five suspected money printers
Addressing newsmen on the discovery on Monday, Lagos State Commissioner of Police, Mr. Umar Manko said the police working on intelligent report about the activities of the fake currency syndicate, policemen from Lagos State Anti-Robbery Squad (SARS) lead by Abba Kyari, a Superintendent of Police (SP) stormed the operational base of the syndicate at 6, Ogulana Street, Alagbado, Lagos, where after intense surveillance two suspects Femi Jacob and Ramon Adeoye were arrested, while eight printing machines and large quantity of fake currency notes both in local and foreign currency worth N8m were recovered.
Gingered by the successful discovery, Manko said upon interrogation of the two suspects they made confessional statement which lead police to the second illegal currency printing factory located at 23, Adebayo Street, ikorodu, Lagos, where two more suspects in person of Isiaka Usman and Hakeem Ayodabo who is the head of the syndicate were arrested.
“At this location, fourteen printing machines, one cutting machine and N100m fake currency notes both in local and foreign currencies were discovered in a three bedroom flat rented by one of the suspect Hakeem Ayodabo purposely for printing fake currencies,” Manko disclosed, just as he revealed that one Onyeka Ibe who usually come from Anambra State to purchase fake currency notes from Hakeem was also arrested.
Manko who confirmed that the currency syndicate had customers in Ghana, Ivory Coast, Gambia , Togo, Mali, Sierra Leone and Liberia among others said Nigerian culpable would be prosecuted in Nigeria, while those outside the country would be handed over to Interpol.
Speaking to Urhobotoday, leader of the syndicate Akeem Ayodabo who owned up to the crime claimed he was a meat seller who later went into fake currency printing business after being defrauded the sum of N800,000 by fake currency syndicate.
”It was when I was defrauded N800,000 and in attempt to get back my money when members of the syndicate decided to show me how to make money by printing fake currency notes for people,”Hakeem confessed, adding that his customers are local conmen who dupe their clients by washing fake currency for them.