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Rampant Fake $100 Bills Droped From India - ABCON

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The Association of Bureaux De Change Operators of Nigeria ( ABCON ) has warned citizens of the country about the numerous amount of fake $100 bills in circulation currently.

Last weekend, the group took up a campaign to intimidate the public of the fake bills that were reportedly imported from India by some mischievous folks.

ABCON President , Dr . Aminu Gwadabe , made this known to newsmen after the National Executive Council meeting they had in Lagos last weekend.

According to Gwadabe, the $ 100 bill is predominantly counterfeited because of the large profit margins it has.

He also said that the aim of some of the perpetrators isn't just to make dubious profits, but to also undermine the country’ s chances for automatic membership of the Financial Action Task Force ( FATF)

However, the relevant security agencies have been told about the issue and steps to grab the perpetrators should be on already.

Dr . Aminu also stated that the Association of Bureaux De Change Operators of Nigeria is interested in the economy and businesses of the currency dealers, and the campaign received the blessings of the Central Bank of Nigeria ( CBN) and Economic and Financial Crimes Commission ( EFCC )

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