CBN seizes N1.2m fake notes in Kano

Daily Trust - - BUSINESS / NEWS - From Ibrahim Musa Giginyu, 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.

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