Counterfeit naira notes flood Kano as CBN raises alarm

- The Central Bank of Nigeria (CBN) N2,97120.00 counterfeit currency notes in circulation in Kano state

- This was discovered between January and November 2016

- N2, 101,400.00 was discovered in 2015

The Central Bank of Nigeria (CBN) discovered N2,97120.00 counterfeit currency notes in circulation in Kano state between January and November 2016.

This was disclosed by the CBN branch controller Kano state, Mrs. Abubakar Ameena Pindar, Daily Trust reports.

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Ameena made the comment during the 2015/2016 Kano bankers dinner and award night ceremony held at Tahir Guest Palace Hotel Kano.

According to her, the statistics recorded when compared to that of last year signified that the trend needs to be nipped in the bud.

She said that needed serious attention and measures were required to stop the ugly trend by all stakeholders in the financial industry.

She therefore requested the cooperation of all financial institutions with the CBN in ensuring that counterfeit currency were mopped out of circulation in the nation.

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Meanwhile, Nigerians may have given up on commercial banks as 30.26 million bank customers have abandoned their bank accounts.

This was made known by the latest industry statistics from the Nigerian Inter-Bank Settlement System (NIBSS) Plc.