The Central Bank of Nigeria (CBN) has issued a warning about the circulation of counterfeit banknotes, particularly higher denominations, in food markets and commercial centers across major cities in the country.
The CBN emphasized that it is an offense punishable by imprisonment for any person to falsify, make, or counterfeit any banknote or coin issued by the CBN.
The bank urged the public to report suspected cases of counterfeit notes and encouraged the use of alternative payment methods to mitigate the risk of spreading fake banknotes.
