The Central Bank of Nigeria (CBN) is urging Nigerians to embrace alternative means of payment for their daily transactions as it raises alarm over the increased circulation of fake naira notes.
In a statement on Friday, the spokesperson of the apex bank, Sidi Ali Hakama, detailed that counterfeit banknotes, especially the higher denominations, are currently circulating in food markets and other commercial centers across the country.
The apex bank urged deposit money banks and other financial institutions to be more vigilant and take the necessary measures to curtail the circulation of these fake bank notes.