20% of Nigerian money in circulation is fake - former deputy governor

Nigeria's former deputy governor of the central bank, Dr Obadiah Mailafia, says 20% of the Naira currency in circulation in Nigeria is fake.

Mailafia says authorities are aware of the situation but they fail to act.

Listen to the audio below for more information...


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
South Africans among Africa's biggest drinkers

South Africans among Africa's biggest drinkers

Africa Check have confirmed that South Africa is on the top 6 of Africa's biggest drinkers list.

Twin bomb attack in Mogadishu hotel kills dozens

Twin bomb attack in Mogadishu hotel kills dozens

Islamic militants from al-Shabaab killed at least 28 people in a twin bomb attack.

Nkosazana Dlamini-Zuma's simply did not do her job as  AU chair - analyst

Nkosazana Dlamini-Zuma's simply did not do her job as AU chair - analyst

Analysts weigh-in with very different views on Dlamini Zuma's failures and achievements as chairperson of the African Union.

Senegalese and Nigerian troops on standby for Gambia's inauguration

Senegalese and Nigerian troops on standby for Gambia's inauguration

Gambian President-elect Adama Barrow remains in Senegal and will fly back to his country tomorrow for inauguration ceremony.

Jammeh declares state of emergency ahead of Barrow inauguration

Jammeh declares state of emergency ahead of Barrow inauguration

Nigerian Foreign Minister Geoffrey Onyeama says the President-elect's inauguration may take place outside of the capital Banjul.

Nigeria votes to offer Gambian President Jammeh asylum if he steps down

Nigeria votes to offer Gambian President Jammeh asylum if he steps down

Nigeria wants Jammeh to step down peacefully when his tenure ends on January 19.

Data, data everywhere! Meet Ornico Group’s Oresti Patricios…

Data, data everywhere! Meet Ornico Group’s Oresti Patricios…

Ornico monitors and simplifies “big data” for 300 local advertisers, either directly or through their agencies.

West African leaders want Gambia President to step down peacefully

West African leaders want Gambia President to step down peacefully

Nigerian President Muhammadu Buhari and four other leaders are meeting to discuss solutions to Gambia's post-election crisis.

'Refer friends, promote us!' - MMM to Nigerian subscribers with frozen accounts

'Refer friends, promote us!' - MMM to Nigerian subscribers with frozen accounts

Despite banning withdrawals, the Ponzi scheme is asking subscribers to promote the scheme ahead of its promised recommencement.

Popular articles
Vigilante mob attacks alleged criminals in Daveyton

Vigilante mob attacks alleged criminals in Daveyton

Tensions are rife in the East Joburg township as the community attacked and killed criminals.

Survivor winner Tom Swartz vows to buy his wife 'new boobies and a family house'

Survivor winner Tom Swartz vows to buy his wife 'new boobies and a family house'

Swartz says he would have done anything to get the R1 million prize money.

[WATCH] Dad uses a drone to pull out son's tooth

[WATCH] Dad uses a drone to pull out son's tooth

Khabazela shares YouTube videos gone viral including a barmaid hitting a colleague who slapped her rear during a routine.

'There is no way Magnus Malan could've done the things he is accused of'

'There is no way Magnus Malan could've done the things he is accused of'

Former police minister Adriaan Vlok has rejected accusations that former minister Malan was at the centre of a paedophile ring.

4 tips for safely investing right now when everything is so hectic

4 tips for safely investing right now when everything is so hectic

Bruce Whitfield asks Personal Financial Advisor Warren Ingram for advice on how investors can safely navigate this hectic time.

[Listen] Lottery responds to Tshepo's fraud claims

[Listen] Lottery responds to Tshepo's fraud claims

Philemon Letwaba says Tshepo's case relates to some of the issues that they are dealing with on a daily basis.