42-year-old man arrested in Lagos for producing, selling counterfeit $100, £100 notes

A fraudster, Akeem Alo, who specializes in producing and selling counterfeit currency, has been arrested by operatives of the Special Anti-Robbery, Squad, SARS, at the Zone 2, headquarters, Onikan, Lagos. 

The 42-year-old suspect, from Oyo State, was arrested when SARS operatives stormed his hideout in Ikorodu and recovered fake local and foreign currencies. 

Confirming the development, the spokesman of Zone 2 command headquarters, Olugbenimi Adeoyo, said that fake $100, £100 notes, and N20,000 were found with the suspect when he was arrested. 

Adeoyo who described Alo as a habitual criminal said the suspect has been arrested several times for the same offence. 

Adeoye said: “He has been arrested twice and he has kept on coming back. We are going to charge him to court and remand him.”

Alo while speaking to journalists said he went back into the illegal business because he needed the money to pay his son’s school fees. 

He said, “I am a butcher. I was arrested last Wednesday. Someone called and said he needed dollars and Pounds. He wanted to use it as ‘treasure,’ which means for fraud.“

I brought the Dollars to the place and I was arrested by the police. Before now, I was arrested in 2013 and they recovered $100,000 and £100,000 from me. I usually sell $10,000 for N2,000, while I sell £10,000 for N3000. 

“I was charged to court after the first arrest and I got bail. I have stopped doing this business, but this man called me and said he would pay me N15,000 if I could supply him foreign currencies. I needed the money to pay my son’s school fees.”