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Nairaland Forum / Nairaland / General / Business / Fake $100 In Circulation, ABCON Warns (16924 Views)
BDCs Now Buying Dollar At ₦980 — ABCON President / ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars / ABCON: Bureaux De Change Tell FG To Ban Binance To Save Naira (2) (3) (4)
Fake $100 In Circulation, ABCON Warns by mrakeli62: 4:26am On Feb 23, 2019 |
The Association of Bureaux De Change Operators of Nigeria (ABCON) on Friday alerted members of the public about ongoing security investigation into fake $100 bills allegedly imported into Nigeria from India. ABCON President, Alhaji Aminu Gwadabe, disclosed this in a statement after the association’s National Executive Council (NEC) meeting in Lagos. Gwadabe said the $100 bills were majorly counterfeit. He said some of the fraudsters’ objective was not only to make profit, but to undermine Nigeria’s chances for automatic membership of the Financial Action Task Force (FATF) after assessment of the country’s financial system scheduled to hold before March. The ABCON boss said the issue of fake dollar in circulation had been observed and reported to relevant security agencies, adding that the ABCON, had in the interest of the economy and Bureaux De Change (BDCs) businesses, secured Central Bank of Nigeria (CBN) and Economic and Financial Crimes Commission (EFCC) backing to begin nationwide campaign against fake currencies in the country. He said rising cases of fake currencies in circulation had led to huge losses to BDC operators and the economy. Gwadabe said ABCON would continue to educate members of the public on how to identify fake dollar bills in order to protect the image of the country in the eyes of foreign investors. “It is part of our objectives which in enshrined on our constitution as an association to eliminate the incidences of fake currencies circulation thereby enhancing the image of the country and transparency in our operations,” he said. Gwadabe said the ABCON NEC had released a guide to all BDCs on how to detect a fake dollar bill. He disclosed that there are seven dollar bills of $1, $2, $5, $10, $20, $50 and $100 and seven steps to authenticate each of them. “The weight of each bill is one gram, 2.61 inches wide and 6.14 inches length. It is 75 per cent cotton and 25 per cent linen. Your finger can feel thickness and texture. “Besides, the portrait water mark is partly overlapped by the Treasury seal, while the $100 bill is printed on the right side of the bill. The strip is thin, faint and runs vertically from top to bottom to the left of the watermark portrait. Also, the 3D security ribbon, also called the thread, is bright blue and vertical on the bill,” he said. Continuing, Gwadabe explained that the raised printing feels rough on right shoulder of Benjamin Franklin portrait while the colour shifting ink works under ultra violet light. He added that the dollar bill undergoes micro printing, which is the production of recognisable patterns or characters in the bill at a scale that requires magnification to read with the naked eye. To the unaided eye, the text may appear as a solid line. https://www.thisdaylive.com/index.php/2019/02/23/fake-100-in-circulation-abcon-warns/?amp 2 Likes 1 Share
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Re: Fake $100 In Circulation, ABCON Warns by sogodihno: 4:30am On Feb 23, 2019 |
FTC on election day. This is the sign of Buhari victory. if you are not voting Buhari, u are wasting your vote. PDP is a gathering of thieves and criminals, they are the defendant of corruption in Nigeria, when PDP start supporting u, just know that u are corrupt. My vote and that of my family is for PMB. To those of us that are bent on rescuing the soul of this country from this gathering of looter, let's come out and vote o, let's Atiku slaves have Nairaland for today, let them win on Nairaland while will win in real life. 4+4 61 Likes 9 Shares |
Re: Fake $100 In Circulation, ABCON Warns by kekakuz(m): 4:30am On Feb 23, 2019 |
people wet go run comot for this country this week go plenty magu tops the list if buhari loses 18 Likes |
Re: Fake $100 In Circulation, ABCON Warns by AngelHoly(m): 4:30am On Feb 23, 2019 |
Abeg where can I get this fake dollar... Dnt mind voting for any party dat will offer me a fake dollar I will know that is my benefit from my vote 2 Likes 1 Share |
Re: Fake $100 In Circulation, ABCON Warns by sathel(m): 4:30am On Feb 23, 2019 |
Election spree |
Re: Fake $100 In Circulation, ABCON Warns by Amuluonyenaego: 4:32am On Feb 23, 2019 |
ALREADY GETTING PREPARED TO ATIKULATE DIS MORNING ![]() 14 Likes 1 Share |
Re: Fake $100 In Circulation, ABCON Warns by 3rdavefarms(m): 4:32am On Feb 23, 2019 |
Fake money from the fake Government ![]() Buhari’s blood pressure will rise today Olofo didan 8 Likes |
Re: Fake $100 In Circulation, ABCON Warns by MChaze25(m): 4:33am On Feb 23, 2019 |
Story!!! 2 Likes |
Re: Fake $100 In Circulation, ABCON Warns by samlake(m): 4:38am On Feb 23, 2019 |
So, I will vote and they will still scam me of fake dollar...By their fruits we shall know them 1 Like |
Re: Fake $100 In Circulation, ABCON Warns by Sweetcollins: 4:40am On Feb 23, 2019 |
sogodihno: Where is your sense man 14 Likes 1 Share |
Re: Fake $100 In Circulation, ABCON Warns by Bar1941(m): 4:41am On Feb 23, 2019 |
Atiku handiwork 8 Likes |
Re: Fake $100 In Circulation, ABCON Warns by sogodihno: 4:42am On Feb 23, 2019 |
Sweetcollins: Save your tears, u will seriously need it in 12 hours time, we will bring bucket for u to cry into. I and my family is not voting Atiku. Shikena. 4+4 20 Likes 5 Shares |
Re: Fake $100 In Circulation, ABCON Warns by ironheart(m): 4:43am On Feb 23, 2019 |
All these BDC should stop lying. Dollars has crashed and the propaganda to try to redeem the value needs to stop 1 Like |
Re: Fake $100 In Circulation, ABCON Warns by abdulazeez1002(m): 4:45am On Feb 23, 2019 |
![]() 13 Likes 2 Shares
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Re: Fake $100 In Circulation, ABCON Warns by abdulazeez1002(m): 4:47am On Feb 23, 2019 |
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Re: Fake $100 In Circulation, ABCON Warns by UKBobo(m): 4:53am On Feb 23, 2019 |
Ask Ganduje 2 Likes |
Re: Fake $100 In Circulation, ABCON Warns by Hotfreeze: 4:57am On Feb 23, 2019 |
We all know those thieves and looters who brought the fake notes into the country. Those who collected money from that thief won't be able to spend it after election when they discover it's fake. 7 Likes 1 Share |
Re: Fake $100 In Circulation, ABCON Warns by Nobody: 5:01am On Feb 23, 2019 |
09064759446 1 Like |
Re: Fake $100 In Circulation, ABCON Warns by Nobody: 5:03am On Feb 23, 2019 |
Someone here who can link me up with a doctor friend or nephrologist? |
Re: Fake $100 In Circulation, ABCON Warns by seunlayi(m): 5:06am On Feb 23, 2019 |
Sweetcollins: Lost and yet to be found. The suffering buhari will upload in the next 4yrs if he win will help him found it 6 Likes |
Re: Fake $100 In Circulation, ABCON Warns by lexy2014: 5:14am On Feb 23, 2019 |
sogodihno: According 2d story, d fake $100 bills were imported into d country from India. How did they pass thru customs? 5 Likes |
Re: Fake $100 In Circulation, ABCON Warns by Nobody: 5:14am On Feb 23, 2019 |
....FINALLY, IT'S TIME TO UN-VOTE THE REDUNDANT/CLANISH SCAMER I WASTED MY VOTE ON IN 2015! #DAY OF RECKONING! #CHANGE THE CHAINge! #RESCUE NIGERIA! 5 Likes |
Re: Fake $100 In Circulation, ABCON Warns by lexy2014: 5:15am On Feb 23, 2019 |
Hotfreeze: How did fake $ notes make their way into d country? How did they pass thru customs? 2 Likes |
Re: Fake $100 In Circulation, ABCON Warns by lexy2014: 5:16am On Feb 23, 2019 |
Bar1941: How did d dollars pass thru customs? 2 Likes |
Re: Fake $100 In Circulation, ABCON Warns by Hotfreeze: 5:16am On Feb 23, 2019 |
lexy2014: Ask the retired Customs officer who is contesting. 6 Likes |
Re: Fake $100 In Circulation, ABCON Warns by MrCEO69(m): 5:17am On Feb 23, 2019 |
sogodihno:Boss tell me what buhari has achieved? |
Re: Fake $100 In Circulation, ABCON Warns by Iphupa: 5:20am On Feb 23, 2019 |
Na dem dem again.Atiku people 3 Likes |
Re: Fake $100 In Circulation, ABCON Warns by Lanre4uonly(m): 5:21am On Feb 23, 2019 |
One just have to expect the unexpected when it comes to our dear country, Nigeria. 1 Like |
Re: Fake $100 In Circulation, ABCON Warns by anambraamaka: 5:21am On Feb 23, 2019 |
Buhari See your life |
Re: Fake $100 In Circulation, ABCON Warns by Bar1941(m): 5:21am On Feb 23, 2019 |
lexy2014: Atiku was their former boss, he still have his boys there. 6 Likes |
Forex: Naira Loses Against Dollar / 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn / CBN To Punish Landlords & Schools That Ask For Dollars
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