Thunderballs Arrowheads Nigeria Limited, in partnership with South Korean currency-handling equipment manufacturer Kisane Electronics Company Limited, has officially launched two currency-counting machines designed to detect counterfeit banknotes while maintaining speed and accuracy.

The launch took place on Wednesday, October 21, 2026, at Bankers’ House, PC 19, Adeola Hopewell Street, Victoria Island, Lagos.

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The machines, the Kisane K2A and Newton 3V models, were unveiled by Olatunde Ojo, Managing Director and Chief Executive Officer of Thunderballs Arrowheads Nigeria Limited, and Yi So Hung, Managing Director and Chief Executive Officer of Kisane Electronics Company Limited.

Representatives of financial institutions, including United Bank for Africa (UBA), First Bank and the Bank of Industry (BOI), attended the event alongside representatives of Barnbridge, a real estate company. A retired Assistant Inspector-General of Police was also among the dignitaries present.

The unveiling marks a step towards expanding access to currency-counting technology designed to help financial institutions identify counterfeit notes during cash processing.

During the presentation, both chief executives demonstrated the K2A and Newton 3V models, which are designed to process different currencies, including the Nigerian naira, US dollar and British pound sterling.

The machines feature a dual-pocket system that separates notes during counting. Genuine notes are directed into one pocket, while notes identified as counterfeit are diverted into another for further examination.

According to the companies, the technology is intended to help banks and other cash-handling organisations improve counterfeit detection without significantly compromising counting speed.

The initiative comes amid concerns about counterfeit high-denomination naira notes and the risk of fake foreign currencies entering circulation through cash transactions and bank deposits.

Thunderballs Arrowheads said local assembly of the machines would also support adaptation to Nigerian currency conditions, including the handling of worn or mutilated banknotes, while improving access to spare parts and after-sales services.

Before the formal unveiling, Ojo shared the story of his journey into machinery and equipment, tracing his early experiences to 1984.

He recalled how his enthusiasm for machines led a workshop owner, whom he frequently approached with questions and requests for guidance, to direct him to different locations, including Ibadan, to source and assemble machine scraps.

The experience, he explained, helped shape his interest in machinery and laid part of the foundation for his eventual business venture.

Ojo also acknowledged the support of a friend who is now a retired managing director of First Bank. He described the friendship as an important source of assistance, including financial support, throughout his entrepreneurial journey.

He further recognised the contributions of his wife, Christiana O. Ojo, and their sons, Taiwo and Kehinde Ojo, to the development of the business.

Taiwo, in particular, was praised for his willingness to take responsibility for promoting and representing the family business whenever his father was unavailable.

The family’s involvement, Ojo indicated, has been an important part of sustaining the company and advancing its business ambitions.

The partnership between Thunderballs Arrowheads and Kisane Electronics is expected to focus on assembling the K2A and Newton 3V models locally.

According to the companies, local assembly could shorten delivery times, improve the availability of spare parts and strengthen technical support for customers in Nigeria.

The arrangement is also intended to encourage technology transfer and contribute to the development of indigenous manufacturing capacity.

Thunderballs Arrowheads had previously announced a trade-in programme that allows customers to exchange obsolete currency-counting machines, regardless of brand, age or condition, with the assessed residual value deducted from the cost of new Kisane equipment.

Kisane Electronics is a South Korean manufacturer specialising in currency-handling equipment, with the company reporting three decades of industry experience and operations in more than 50 countries.

As part of its corporate social responsibility programme, Thunderballs Arrowheads also announced plans to introduce annual endowments for outstanding final-year projects in Electrical and Electronics Engineering.

The initiative is intended to benefit students at Lagos State Technical College, Yaba College of Technology and the University of Lagos.

The company said the programme would promote academic excellence, encourage innovation and support the development of locally driven solutions to Nigeria’s technological and industrial challenges.

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The launch brought together representatives from the financial, business and technology sectors, highlighting the role of collaboration between local enterprises and international manufacturers in developing solutions for Nigeria’s cash-handling industry.