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General News of Monday, 13 March 2023


Naira Scarcity: NSCDC raises concerns over circulation of fake recoloured notes

New Naira notes New Naira notes

The Nigeria Security and Civil Defence Corps (NSCDC) says it will continue to arrest and prosecute those involved in producing and circulating fake redesigned naira notes.

The Commandant-General of the corps, Ahmed Audi, told journalists on Sunday in Abuja that the number of cases of circulation of fake naira notes had become worrisome.

He warned perpetrators to desist, adding that the corps would not relent but continue to arrest and prosecute those involved in economic sabotage of the country.

According to him, in less than a month, the corps had arrested and seized fake naira notes worth millions from members of syndicates in different states.

The CG said that while interrogating most of the arrested suspects, it was deduced that the alleged fraudsters took advantage of the low circulation of the redesigned naira notes to massively produce counterfeit notes.

“Many innocent Nigerians must have fallen victim to their scheme while they collected bank money transfers and exchange of foreign currencies.

“The arrest of these syndicates will help us fish out more criminals who have decided to take advantage of the economic situation in the country to scam people,” he said.

Audi further advised citizens to avoid being victims of fraudsters by ensuring they transact with banks, most especially when large sums were involved.