Regulatory Alerts2009-08-14 | BSD/DIR/GEN/CIR/03/021Alert on Counterfeit CFA Notes in Circulation
The Central Bank of Nigeria has warned banks, discount houses, and bureau de change about the circulation of counterfeit CFA notes, particularly in Senegal, Guinea Bissau, and Cameroun. The counterfeit notes are in denominations of CFA5,000 and CFA10,000 and have specific serial numbers. Financial institutions are advised to be vigilant and take precautions to prevent these counterfeit notes from entering the Nigerian financial system.
234-9-462-36403 234-9-462-36418 August 12, 2009 BSD/DIR/GEN/CIR/03/021 CIRCULAR TO ALL BANKS, DISCOUNT HOUSES AND BUREAU DE CHANGE ALERT ON COUNTERFEIT CFA NOTES IN CIRCULATION The attention of the Central Bank of Nigeria (CBN) has been drawn to the circulation of significant quantities of counterfeited CFA notes especially in Senegal, Guinea Bissau and Cameroun. According to the report from the Central Bank of West African States (BCEAO), the counterfeit notes have been identified as being in the denominations of CFA5, 000 and CFA10, 000 and bear serial numbers beginning with 0737836 and ending with the letter 'D'.
Consequently, all deposit money banks, discount houses and bureau de change are advised to watch out for these notes and take necessary precautionary steps to ensure that they do not infiltrate into the Nigerian financial system. SAMUEL A. ONI DIRECTOR OF BANKING SUPERVISION