{"id":103527,"date":"2023-12-08T20:29:22","date_gmt":"2023-12-08T19:29:22","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/cbn-warns-nigerians-on-circulation-of-counterfeit-naira-notes"},"modified":"2023-12-09T10:49:37","modified_gmt":"2023-12-09T09:49:37","slug":"cbn-warns-nigerians-on-circulation-of-counterfeit-naira-notes","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-warns-nigerians-on-circulation-of-counterfeit-naira-notes","title":{"rendered":"CBN warns Nigerians on circulation of counterfeit Naira notes"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>Amid Nigeria\u2019s currency shortage, the Central Bank of Nigeria has warned Nigerians against counterfeit Naira banknotes.<\/p>\n

On Friday, the apex bank gave the warning in a notice titled \u2018Beware of Counterfeit Naira Banknotes in Circulation\u2019.<\/p>\n

The Bank urged all Deposit Money Banks, Financial Houses, Bureau de Change and the general public to be more vigilant and take all necessary precautions.<\/p>\n

It assured that it is working with security operatives to apprehend culprits.<\/p>\n

\u201cThe attention of the Central Bank of Nigeria (CBN) has been drawn to the circulation of counterfeit banknotes, especially higher denominations, by some individuals for transactions in food markets and other commercial centres across major cities in the country.<\/p>\n

\u201cFor the avoidance of doubt, Section 20(4) of the CBN Act (2007) as amended, states that: \u201cIt shall be an offence punishable by a term of imprisonment of not less than 5 years for any person to falsify, make or counterfeit any bank note or coin issued by the Bank which is legal tender in Nigeria.\u201d<\/p>\n

\u201cThe CBN is in constant collaboration with relevant security and financial agencies to confiscate fake Naira banknotes, arrest and prosecute counterfeiters. 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.<\/p>\n

\u201cMeanwhile, all Deposit Money Banks, Financial Houses and Bureau de Change and the general public are enjoined to be more vigilant and take all necessary precautionary measures to curtail the acceptance and distribution of counterfeit notes\u201d, the statement reads.<\/p>\n

The threat of naira scarcity worsened in parts of Abuja as Automated Teller Machines failed to dispense cash in the Nation\u2019s capital.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Amid Nigeria\u2019s currency shortage, the Central Bank of Nigeria has warned Nigerians against counterfeit Naira banknotes. On Friday, the apex bank gave the warning in a notice titled \u2018Beware of Counterfeit Naira Banknotes in Circulation\u2019. The Bank urged all Deposit Money Banks, Financial Houses, Bureau de Change and the general public to […]<\/p>\n","protected":false},"author":84,"featured_media":103526,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,1578,503,254],"class_list":["post-103527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-breaking","tag-cbn","tag-nigeria"],"yoast_head":"\nCBN warns Nigerians on circulation of counterfeit Naira notes - Nigeria<\/title>\n<meta name=\"description\" content=\"Amid Nigeria\u2019s currency shortage, the Central Bank of Nigeria has warned Nigerians against counterfeit Naira banknotes. ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-warns-nigerians-on-circulation-of-counterfeit-naira-notes\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN warns Nigerians on circulation of counterfeit Naira notes\" \/>\n<meta property=\"og:description\" content=\"Amid Nigeria\u2019s currency shortage, the Central Bank of Nigeria has warned Nigerians against counterfeit Naira banknotes. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-warns-nigerians-on-circulation-of-counterfeit-naira-notes\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-08T19:29:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-09T09:49:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/12\/sm_1702056762.317593.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-warns-nigerians-on-circulation-of-counterfeit-naira-notes#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-warns-nigerians-on-circulation-of-counterfeit-naira-notes\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBN warns Nigerians on circulation of counterfeit Naira notes\",\"datePublished\":\"2023-12-08T19:29:22+00:00\",\"dateModified\":\"2023-12-09T09:49:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-warns-nigerians-on-circulation-of-counterfeit-naira-notes\"},\"wordCount\":298,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-warns-nigerians-on-circulation-of-counterfeit-naira-notes#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/12\/sm_1702056762.317593.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"breaking\",\"CBN\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-warns-nigerians-on-circulation-of-counterfeit-naira-notes#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-warns-nigerians-on-circulation-of-counterfeit-naira-notes\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-warns-nigerians-on-circulation-of-counterfeit-naira-notes\",\"name\":\"CBN warns Nigerians on circulation of counterfeit Naira notes - 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