CBN Warns Nigerians As Fake Naira Notes Circulates The Country

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Tijani Abdulkareem


The Central Bank of Nigeria has issued a warning, urging Nigerians to be cautious of counterfeit naira notes circulating amidst reports of a currency shortage in the country.

In a statement released on Friday titled ‘Beware of Counterfeit Naira Banknotes in Circulation,’ the apex bank advised Deposit Money Banks, Financial Houses, Bureau de Change, and the public to be vigilant and implement necessary precautions.

The Central Bank assures the public that it is actively working with law enforcement operatives to apprehend those responsible for circulating counterfeit currency.

The statement, in part, said, “The attention of the Central Bank of Nigeria has been drawn to the circulation of counterfeit banknotes, significantly higher denominations, by some individuals for transactions in food markets and other commercial centers across major cities in the country.

“Members of the public are also encouraged to report anyone suspected of having counterfeit naira notes to the nearest police station or branch of the Central Bank of Nigeria."

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