House of Reps probe banks over FAKE naira notes dispensed by ATMs

House of Representatives, yesterday, passed a resolution to investigate the incidence of fake naira notes being dispensed by automated tellers machines, ATMs, in some parts of the country.

Deputy Speaker of the House, Mr. Emeka Ihedioha, who presided over the plenary session, mandated the House Committee on Banking and Currency to investigate the situation and report back to the House within three weeks.

The resolution was passed following a motion presented to the plenary session of the House by Mr. Yusuf Tajudeen (Kabba-Bunu/Ijumu Federal Constituency).

While moving the motion, Tajudeen observed that many law abiding citizens have been victims of this unfortunate practice which has led to the loss of legitimate funds by Nigerians.

He said: “The dispensation of fake naira notes by ATMs may grossly affect the operation, viability and success-rate of the recently introduced cashless policy.”