CBN seizes N1.2m fake notes in Kano
Kano Branch Controller of the Central Bank of Nigeria (CBN) Mrs. Ameena Pindar Abubakar, has stated that in 2013, CBN discovered N1, 224,000.00 fake notes in the state.
Speaking during the Kano bankers committee annual dinner and customers forum for the year 2013 held at Tahir Guest Palace Kano, Mrs. Abubakar said, “under the currency management and processing operations, a total of N29, 277,200.00 was discovered as shortage against the banks while N205, 055.00 was discovered as surplus and N1, 224,000.00 was recorded as fake notes during the year in review.”
She added that in the year under review, Agricultural Credit Guarantee Scheme (ACGS) of the CBN recorded 1586 loans valued at N313, 912,000.00 being guaranteed in the state. Mrs. Abubakar also stated that a total number of 3276 loans valued at N467, 695,000.00 were recovered.
Under the Commercial Agricultural Credit Scheme (CACS), she said the Central Bank of Nigeria in collaboration with the Federal Government of Nigeria provided credit facilities at a single digit interest rate in order to enhance national food security, reduce the cost of credit in agricultural production, increase output and other agricultural activities. She further stated that the sum of N200bn was set aside for the scheme at 9% interest rate.
During the event, deposit money banks in various categories were recognized and awarded for outstanding performances.
From left: Mr. Abimbola Olashore, Chairman Lead Securities & Investment Plc; Mr.Oscar Onyema, CEO of Nigeria Stock Exchange; Mr. Ayo Ajayi, Chairman of Leadcapital Plc; and Mr. Dan Ngerem, Director of Leadcapital Plc, at the Official/ Media Launch of Leadtrader, held at the Nigerian Stock Exchange, Lagos recently.