By Patience Lunda:
Police in Mzuzu have arrested 48-year-old businessman Horace Nyasulu for being found with $50,000 suspected to be counterfeit.
Mzuzu Police Station publicist Paul Tembo said the money was in $100 notes and the suspect was caught when he was trying to exchange the money with Malawi Kwacha.
“He came to Mzuzu from Phwezi Trading Centre, where he conducts his business, and was trying to find ways of exchanging the money with Kwacha banknotes,” he said.
Tembo said the Reserve Bank of Malawi (RBM) has since taken the money to ascertain its originality and the suspect has been charged with illegal possession of foreign banknotes.
On his part, RBM Director of Public Relations Mark Lungu said it is illegal to be found in possession of counterfeit money.
“Those caught with counterfeits are subjected to legal provisions that deal with the same and, in the case of local currency, we, from time to time, enhance security features of the notes because we are in control but in the case of foreign currency we work with police and other law enforcing agencies to deal with those involved in such acts,” he said.
Nyasulu comes from Kambombo Village, Traditional Authority Mwankhunikira, in Rumphi District.
