Confirmation Of Fake Naira Notes Circulation

(CBN), on Friday, December 8, affirmed that phony naira notes were coursing across the country, making the public aware of or careful with their exchanges. 

The pinnacle bank brought the caution up in a proclamation named, ‘Be careful with Fake Naira Banknotes’ and endorsed by its acting head of Corporate Correspondences, Sidi Hakama. 

“The consideration of the central Bank of Nigeria (CBN) has been attracted to the course of fake banknotes, particularly higher sections, by certain people for exchanges in food markets and other business places across significant urban areas in the country,” CBN expressed. 

Citing Segment 20(4) of the CBN Act (2007) as changed, the peak bank said, “It will be an offense deserving of a term of detainment or at the very least five years for any individual to misrepresent, make or fake any monetary certificate or coin gave by the Bank which is lawful delicate in Nigeria. 

“The CBN is in steady joint effort with pertinent security and monetary organizations to take counterfeit naira banknotes, capture and arraign forgers. Individuals from the general population are additionally urged to report anybody associated with having fake naira notes to the closest Police headquarters or the Central Bank of Nigeria in your locality.