Counterfeit N1,000 Notes Disrupt Borno Traders' Businesses

Traders at the Kwaya Kusar Grains Market in Kwaya Kusar Local Government Area of Borno State have raised alarms over the circulation of counterfeit N1,000 notes, which is negatively impacting their businesses. In interviews with the News Agency of Nigeria on Saturday, traders expressed that this issue extends beyond Kwaya Kusar to other markets in Biu and Bayo LGAs.

Ibrahim Yusuf, a grain dealer from Gombe, recounted being a victim of counterfeit notes, losing potential profits as a result. He urged government authorities to take action to eliminate counterfeit currency, especially as farmers begin harvesting their produce.

Alhaji Hassan Mai-Dawa also shared his experience of receiving fake notes from a Point of Sales operator, which he discovered only when attempting to deposit the money in the bank. Mrs. Hauwa Aminu mentioned noticing unusual new N1,000 notes in her cash but did not initially act on it.

The traders collectively called for urgent intervention from relevant agencies to protect them from further losses.