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The Bank of Tanzania (BoT) has trashed aside rumours among the residents of Igunguli Village, Loje Ward, Chamwino District in Dodoma after conducting an inspection of notes suspected to be counterfeit and confirming that the money is legitimate.
This action was prompted by rumors circulating about the presence of fake 10,000 shilling notes, which had caused widespread anxiety and fear among the public.
To restore calm in the village, Chamwino District Commissioner, Ms. Janeth Mayanja, addressed the residents and urged them to respect the laws of the country. She emphasized the importance of maintaining peace and order in the community.
"We must always adhere to the laws of our nation, and it is important not to spread fear or panic. The situation here is under control," said Ms. Mayanja. She made this statement on May 20, 2025, when she visited Igunguli Village to address the concerns raised by the rumors of counterfeit notes.
The confusion surrounding the validity of the 10,000 shilling notes began after some residents questioned the differences in the signatures of various Ministers of Finance over time.
"Some people thought that the difference in signatures was an indication of fake notes," explained one local resident.
This confusion led to suspicions that some people were unknowingly in possession of counterfeit money, with some notes being confiscated or destroyed in the process.
In response, a team of experts from the Bank of Tanzania’s Dodoma Branch, led by the Banking Services and Currency Manager, Mr. Nolasco Maluli, conducted an inspection of the six notes that had been flagged as possibly counterfeit.
After a thorough review, they confirmed that all of the notes were indeed legitimate. "These notes are genuine and there is no reason for the public to be concerned," stated Mr. Maluli during the inspection.
Taking the opportunity to educate the public, Mr. Maluli highlighted the various security features present on genuine currency notes.
"You can easily identify authentic notes by sight, by touch, and under ultraviolet light. These features are designed to protect you and help you identify fake notes," he explained.
He further clarified that differences in the signatures of Ministers of Finance do not affect the authenticity of the notes, as these signatures change with leadership transitions.
"The change in signatures is a normal part of the government’s transition process. It does not mean the notes are counterfeit," Mr. Maluli reassured the public.
In addition to the inspection, the residents were encouraged to adopt safer methods of conducting transactions to avoid potential losses.
"We urge people to use secure methods like bank accounts and mobile money services instead of keeping large amounts of cash at home," Ms. Mayanja advised.
"This way, you can avoid unnecessary risks and minimize the chances of losing your money."he added
Through these efforts, the Bank of Tanzania and local authorities have worked together to quell the fears surrounding the counterfeit note rumors and to promote safe financial practices within the community.