CBN: ₦500 And ₦1000 Are The Most Commonly Faked Notes
October 16, 2019
9:01 am
The Central Bank of Nigeria (CBN) on Wednesday, said that a total of 119,663 pieces of counterfeit notes with a nominal value of ₦98.82 million was recorded in 2018.
The bank said this in the Currency Operations 2018 Annual Report, posted on its website.
The CBN said the figure indicated a decline of 1.30 percent in volume terms and an increase of 5.77 percent in value terms when compared with 118,126 pieces with a nominal value of ₦93.43 million recorded in the corresponding period of 2017.
The regulator said that the ratio of counterfeit notes to the volume of banknotes …
