Chinedu Oneli, 37, after his arrest allegedly confessed to the police that he buys fake naira notes at Alaba International Market, Ojo, Lagos, and surreptitiously exchanges same for original notes through bus conductors and traders.
According to the police, nemesis caught up with the suspect, who claimed to be from Imo State, southeast Nigeria, when he went to buy a tin of milk with one of the fake N1,000 note at a shop owned by a woman at Jakande Estate, First Gate , Lekki, Lagos.
The trader, it was gathered, discovered that the N1,000 note the suspect brought out to pay for the tin of milk was fake.
And while pretending to be looking for change for Oneli, she allegedly informed some youths in the area about the development.
The youths were said to have confronted the suspect but the suspect simply took to his heels. He was pursued and caught by the youths.
During a search, N15,000 fake N1,000 notes were found in his possession and the youth dragged him to the nearest police station.
During interrogation at the station, the suspect allegedly confessed to that he bought the fake currency notes at Alaba Market, Ojo, Lagos.
Oneli allegedly told the police: “ I am a DVD cassette seller at Alaba International Market, Ojo, Lagos and I also buy fake N1,000 notes from Zida Ozegba, a trader at Alaba market. I have been doing the business since 2010. Zida normally sells N8,000 fake notes for original N1,000 and N16, 000 fake notes for original N2,000.
“ I exchange the fake notes for original naira through bus conductors and traders. I will board vehicles and give the conductors N1000 fake notes for a journey of N100 and they will give me N900 change. Before I move around Lagos the whole day, I must have finished spending the whole fake notes in my possession and make enough profit.”
After investigation, the suspect was charged before a Tinubu Magistrate’s court on a one count charge of possession of fake currency notes.
The offence, the prosecutor, Sgt. Ighodalo Daniel said, contravened section 363g of the criminal laws of Lagos state, 2011.
The accused pleaded not guilty to the charge and Magistrate Mrs. Pinhero admitted him on bail in the sum of N100,000 with two sureties in like sum.
She adjourned the matter till 17 October, 2013 for mention. The defendant was taken to Ikoyi Prisons pending when he will fulfill the bail conditions.
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