Central Bank of Nigeria is debunking claims that about 20 per cent of the naira notes in circulation were counterfeit, acknowledging that no currency in the world is immune from counterfeiting.
The apex bank in a statementsigned by its Acting Director, Corporate Communications Department, Isaac Okoroafor, said that the security features in the currency had made it difficult for the naira to be counterfeited, adding that less than one per cent of the notes in circulation between January and December last year were fake.
While noting that it frowns strongly on attempts to counterfeit the naira, it added that it remained committed to safeguarding the value of the naira by ensuring that the nation’s banknotes were not susceptible to counterfeiting.
Furthermore, the CN official advised members of the public to be wary of the activities of counterfeiters and report any case of counterfeiting to the police and their banks.
The apex bank in a statementsigned by its Acting Director, Corporate Communications Department, Isaac Okoroafor, said that the security features in the currency had made it difficult for the naira to be counterfeited, adding that less than one per cent of the notes in circulation between January and December last year were fake.
While noting that it frowns strongly on attempts to counterfeit the naira, it added that it remained committed to safeguarding the value of the naira by ensuring that the nation’s banknotes were not susceptible to counterfeiting.
Furthermore, the CN official advised members of the public to be wary of the activities of counterfeiters and report any case of counterfeiting to the police and their banks.
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