The police in Lagos have uncovered a criminal hide out where fake currency Naira notes were hawked and sold in exchange with the original notes in Lagos.
P.M.EXPRESS reports that the discovery followed a painstaking discreet investigation by the officers of State Anti Robbery Squad, (SARS) Ikeja Command, Lagos.
The incident happened at the notorious Oluwole Street in Lagos Island which had been known for all forms of forgery and alteration of documents.
P.M.EXPRESS gathered that the raid followed an intelligence report on the activities of the criminals in the area which the police acted on.
The efforts of police paid off when they stormed the place, arrested one of the suspects and also recovered thousands of Naira notes suspected to be fake.
One of the suspects, Taoreed Olatubosun was arrested with N35,000 suspected fake notes while his other accomplices were said to be on the run.
The police also recovered caches of fake notes as exhibits and moved them to the SARS office in Ikeja, Lagos.
It was still uncertain from where Olatubosun procured the notes which seemed very similar to the real money and who were their customers.
Though, Olatubosun did not disclose his sources and his customers, police sources said their customers were mainly those fraudsters who used the notes to defraud innocent people.
Meanwhile, Olatubosun has been charged before Ikeja Magistrates court for conspiracy and being in possession of fake notes, while the police were said to be on the trail of other suspects.
He pleaded not guilty.
The presiding Magistrate, Mrs O.A. Layinka granted him bail in the sum of N200,000 with two sureties in like sum.
He was remanded in prison custody pending when he will perfect his bail condition.
The matter was adjourned till 11th of September, 2017.[PM Express]