Central bank, Nampol warn against counterfeit banknotes
The Bank of Namibia and the Namibian Police Force have urged the public to remain vigilant and share any information regarding the activity of counterfeit Namibia Dollar notes.
This comes after counterfeit notes were discovered when two Namibian suspects and a Rwandese suspect were found counterfeiting banknotes at a central shop in Katutura. The suspects were arrested through an intelligence-led operation and have been remanded in custody after appearing in court on 30 September 2022.
According to a joint statement from the central bank and Nampol, counterfeit notes are mainly exchanged at small businesses, home shops, and taxi services.
“The recipients of these notes may not be aware of the security features and therefore fall victim to counterfeits or are in a hurry and do not have time to verify,” the statement read.
The statement noted that persons involved in counterfeits will be liable on conviction to a fine not exceeding N$100,000 or to imprisonment for a period not exceeding five years, or to both such fine and such imprisonment.
