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The fraudulent, newly designed Naira notes that are currently in circulation have been reported to the Nigeria Security and Civil Defence Corps (NSCDC).
Ahmed Audi, the corps' commandant-general, expressed concern over the situation and vowed to ensure that those responsible were brought to justice.
Audi added that the corps had detained and confiscated fake Naira notes worth millions from members of syndicates in several states throughout the nation in less than a month.
The NSCDC Commandant-General stated that the fraudsters took advantage of the poor circulation of the redesigned Naira notes to make enormous amounts of counterfeit notes. He also recommended Nigerians to deal with banks, especially where large sums are required.
The commandant-general of the NSCDC remarked;
"It's likely that a large number of innocent Nigerians were duped as they gathered money from bank transfers and foreign currency exchanges.
"We will be able to catch other criminals who have chosen to take advantage of the nation's economic condition by defrauding citizens thanks to the arrest of this syndicate."
