The Gambian Government has been accused of printing counterfeit currencies, in a bid to stabilize the nation’s inflation. Over D3Million dalasis worth of counterfeit notes are currently circulated into Gambia’ market, reveals Central Bank sources. The bad money is bound to affect the country’s economic indication, as it’s having an adverse effect on the value of the dalasi. “ The Central Bank has been receiving many counterfeit notes in the recent past. Our Governor knows about the source of these counterfeits and as such he does not want to make noise over it. Over D3million counterfeit is currently in the market.” Said an official of the Central Bank.

Gambia’s currencies are usually printed in the United Kingdom, but this time around, sources said the counterfeits were printed locally. “ The Government should be mindful about the dangers of allowing counterfeits into the market. Their action tantamount to money laundering. If they lacked funds, this is not the way to remedy the situation. Our Governor is part of this deal. We know the parties who printed the fake money.” Said bank sources.

This reporter interviewed local money changers who also confirmed the growing presence of counterfeit notes in the market. “ Counterfeit notes is a major problem in this country. The Central Bank which is responsible in discouraging such acts, is silenced over it.” Said a money changer.

 The Central Bank Governor Bamba Sarho wa indisposed for comments at press time.  

                              

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