Spokesperson for the police in Mwanza, Edwin Kaunda, identified the suspects as Grey Abraham aged 45 and Mike Daniel 19. They were picked Monday dawn.
According to Kaunda, the first to be arrested was Daniel who tried to buy beer at a night club using the suspect notes.
Daniel led the police to Abraham's house where the police retrieved 66 thousand Malawi Kwacha of two thousand Kwacha of suspect notes.
The two will answer a charge of possessing fake currency.