A Nigerian man has raised alarm over the circulation of fake N1000 notes. Recall that the redesigned N1000 notes were released to Nigerians on December 15.
It appears some criminal-minded people have manufactured the fake notes and are now circulating them.
The Nigerian man says the money was given to his wife who runs a POS business. He pointed that the fake notes did not have the gold seal like the original notes
Watch the video he shared below:
In other news, As demand surges, banks run short of new naira notes. ATMs are still releasing old notes.
Banks run out of fresh naira, while ATMs are still issuing old notes due to the increased demand.
The disbursement of the redesigned N1,000, N500, and N200 bills finally commenced on Thursday, over three weeks after they were unveiled by President Muhammadu Buhari.
Recall that Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, had on October 26 announced plans to redesign the N200, N500, and N1,000 denominations, while also declaring that the old notes would cease to be a legal tender by January 31, 2023.
Emefiele added that introducing the new notes will allow the apex bank to mop up currency-in-circulation and stifle ransom payments to kidnappers and terrorists.
As reported by The Punch, banks in several cities across the country, especially in Lagos and Abuja had, as early as 12 noon on Thursday, exhausted the small quantities of the new notes allocated to them from their head offices.
The paper further discovered that several bank branches were yet to receive their new notes allocations with many bank officials saying they were still expecting the arrival of the new notes.
Some bank officials who spoke to The Punch on condition of anonymity disclosed that their allocations were very small.
An official of Access Bank Plc at the Ojodu branch in Lago who doesn’t want his name mentioned said, “Each cashier was given N100,000 of the new N1,000 bill for onward disbursements to customers seeking over-the-counter payments. We don’t have the other denominations of N500 and N200 yet. We don’t have enough supply of the new notes for now.”
This reporter discovered during his visit to several bank branches on Thursday that Automated Teller Machines (ATMs) were still dispensing old naira bills.
A man who had come to a Zenith Bank branch in Yaba, Lagos, left in disappointment after the ATM dispensed the old naira notes.