In the midst of the currency shortage in the country, the Central Bank of Nigeria has alerted Nigerians against fake Naira banknotes.
On Friday, the apex bank issued the warning in a notice titled ‘Beware of Counterfeit Naira Banknotes in Circulation’.
CBN encouraged all Deposit Money Banks, Financial Houses, Bureau de Change and the general public to be extra vigilant and exercise all necessary precautions.
The bank had also assured the general public that it was working with security personnel to arrest the miscreants behind it.
The statement read:
“The Central Bank of Nigeria –CBN’s attention has been drawn to the dissemination of counterfeit banknotes, particularly the higher denominations, by certain individuals for dealings in food markets and other commercial centres across key cities in Nigeria.”
Section 20(4) of the CBN Act (2007) as revised, states that: “It shall be an offence punishable by a prison term of not less than 5 years for any person to alter, produce or fake any bank note or coin issued by the Bank which is legal tender in Nigeria.”
“The CBN is in unceasing collaboration with suitable security and financial agencies to seize fake Naira banknotes, arrest and prosecute counterfeiters.”
“Members of the public are enjoined to report anyone suspected of possessing counterfeit Naira notes to the nearest police station, or branch of the Central Bank of Nigeria.”
Earlier, reports had surfaced that the crises of naira scarcity had worsened in parts of Abuja; as Automated Teller Machines –ATMS had failed to dole out cash in the Nation’s capital.
