The National Orientation Agency (NOA) has raised an alarm over the circulation of counterfeit N1000 notes in Kwara State, identifying two specific batch numbers—364232 and 898248—being used by criminal syndicates to push fake currency into the local economy.
In a public advisory issued on Friday, August 2, the Kwara State Director of the NOA, Mr. Olusegun Adeyemi, confirmed that the agency had received multiple credible reports concerning the spread of the counterfeit banknotes in various parts of the state. The fake notes, which are designed to closely resemble genuine Naira currency, have reportedly been detected in markets, transport hubs, and local retail centers.
“Our office has verified several complaints from both individuals and financial institutions that these counterfeit N1000 notes are in active circulation. The batch numbers most frequently flagged are 364232 and 898248,” Mr. Adeyemi stated while addressing journalists in Ilorin. He added that members of the public, especially traders and market operators, should exercise extra caution and thoroughly inspect any N1000 notes they receive.
The NOA disclosed that it has commenced an intensive public sensitization campaign across all 16 local government areas of the state to educate residents on identifying fake currency. The agency is also collaborating with the Central Bank of Nigeria (CBN), law enforcement agencies, and commercial banks to contain the spread of the counterfeit notes and apprehend those responsible for producing and distributing them.
While urging citizens not to panic, the agency emphasized the need for vigilance. Mr. Adeyemi advised anyone in possession of suspicious banknotes to report immediately to the nearest police station, NOA office, or financial institution. “Handling counterfeit currency is a criminal offense, and the public must understand both the legal and economic implications of using such fake money,” he said.
He further reiterated that the NOA’s public enlightenment efforts would involve town hall meetings, distribution of flyers, and the use of radio broadcasts to reach rural and urban populations. “Our aim is to prevent unsuspecting individuals and businesses from falling victim to this criminal activity, and we believe collective vigilance will help in rooting out the syndicates behind it,” he added.
As of the time of filing this report, no arrests had been confirmed by the police in relation to the counterfeit operation. However, investigations are ongoing, and authorities have promised to prosecute anyone found culpable under Nigeria’s counterfeiting laws.
The NOA encouraged residents to familiarize themselves with security features embedded in authentic Naira notes, including the watermark, security thread, color-shifting ink, and raised print, as part of measures to safeguard financial transactions.
The agency also warned that similar counterfeit operations have been known to migrate between states, and thus other regions should remain alert.
Comments