The National Gendarmerie recently announced the seizure of counterfeit banknotes worth 32 million CFA francs in Maroua, the regional capital of the Far North region. This seizure follows an investigation initiated by the gendarmerie after receiving multiple reports of counterfeit currency circulation.

“In November 2024, the Central Judicial Investigation Service received several reports regarding the circulation of a significant volume of counterfeit Central African Franc (CFA) banknotes in the metropolitan areas of Yaoundé and Douala,” said Captain Moïse Aubin Otele Etoundi, head of the laboratory office at the Central Judicial Investigation Service of the National Gendarmerie.

The investigation revealed Maroua as a key distribution point for these counterfeit notes. Gendarmerie operations in the city led to the seizure of 32 million CFA francs in counterfeit 5,000 and 10,000 CFA franc bills and the arrest of one suspect. Interrogation of the first suspect led to the arrest of a second accomplice in Kousseri, another city in the region. Both men, aged 27 and 49, admitted their involvement in the counterfeiting operation. They are accused of circulating large quantities of counterfeit notes, particularly during the recent holiday season, although the total amount of counterfeit currency remains undetermined.

Investigators uncovered evidence suggesting the suspects were part of a sub-regional network of counterfeit currency traffickers. According to Captain Etoundi, their modus operandi involved traveling to neighboring Nigeria to purchase large quantities of counterfeit CFA banknotes from a manufacturer and trafficker. This supplier sold a batch of one million CFA francs in counterfeit notes for 40,000 naira (approximately 16,000 CFA francs). Investigations are ongoing, with Interpol’s collaboration, to identify and apprehend other members of the network operating in neighboring countries.

The seized counterfeit banknotes primarily belonged to the 2020 series, a new range introduced on December 15, 2022, by the Bank of Central African States (BEAC), the central bank for six Central African countries (Cameroon, Congo, Gabon, Equatorial Guinea, Chad, and the Central African Republic). These notes incorporate advanced security features, both visible and invisible, which BEAC claims make the banknotes “virtually counterfeit-proof.” However, Yvon Sana Bangui, the governor of BEAC, acknowledged that some counterfeiters manage to circumvent these security measures.

“Counterfeiters often exploit the introduction of a new banknote series because, during this period, some users are not yet familiar with all the security features that distinguish an authentic note,” the governor explained in an interview with Ecomatin in July 2024.

Governor Bangui noted that counterfeiters often target remote towns or villages in border regions, where populations may be less familiar with the new banknotes and their security features. These counterfeit notes can then enter the regular economic circuit through local markets, shops, and other channels. Despite the enhanced security features of the 2020 series, particularly on the higher-denomination 5,000 and 10,000 notes, the governor observed that the counterfeit notes seized in some sub-regional countries were “crudely made imitations,” often produced using methods like photocopying or color printing. However, he emphasized that the quantities of seized counterfeit notes represent a “tiny proportion” of the authentic notes in circulation.

Source: Sbbc