The Bank of Zambia (BoZ) has expressed concern at the increasing reports of counterfeit bank notes circulating in the country.
BoZ acting Manager for Currency at the Ndola regional office Kamuti Chama-Shichilenge said the Central Bank has continued to receive reports of fake Kwacha notes and other foreign currencies being circulated on the local market.
Mrs. Shichilenge said this when she led a team of officials’ from the BoZ regional office in paying a courtesy call on Kasama District Commissioner Lieutenant Colonel Steven Chanda at his office yesterday.
She noted that the high value denominations of K20,000 and K50,000 where the most common counterfeit notes in circulation.
Mrs. Shichilenge noted that recently some farmers in the country complained of being cheated during the last crop marketing season after some bogus businessmen bought their produce using counterfeit Kwacha notes.
She has since urged members of the public to be vigilant when handling money especially during the coming festive season because most unscrupulous individuals usually take advantage of the period to circulate fake currencies in the country.
Mrs. Shichilenge also revealed that the Bank of Zambia has embarked on a sensitization programme in Northern Province to raise awareness among members of the public on the need for them to be alert and distinguish original bank notes from fake ones.
The BoZ Official further said the sensitization meetings would be held in Kasama, Mpika, Isoka, Chinsali and Nakonde Districts respectively.
And BoZ Regional Investigations Officer Charles Hamalala said people who were involved in circulating of counterfeit notes were sophisticated because they targeted unsuspecting members of public when releasing their fake currencies on the market.
Mr. Hamalala has since advised Zambians to always report to the police anybody found circulating counterfeit bank notes so that the law could take its course.
He however, warned people that the law was clear on anyone found in possession of fake banks notes adding that expressing ignorance in the court of the law was no defence because merely possession any fake currency was enough proof for one to be convicted.