The Central Bank of Nigeria (CBN) yesterday highlighted security features in the redesigned naira notes to reaffirm the safety of the legal tender

How you can identify fake new naira note

The Central Bank of Nigeria (CBN) yesterday highlighted security features in the redesigned naira notes to reaffirm the safety of the legal tender.

The apex bank in a display, marked out security features and peculiarities that distinctively differentiate the new naira notes and make them inviolable to counterfeiting.

The security features included, at least, 23 features on the N1,000 note, 15 features on the N500 note and 10 features on the N200 note.

The release of the demonstrative naira notes with marked security features followed reports that counterfeits of the new naira notes were already in circulation, few days after the official rollout.

The Nation had reported that there were confusion and palpable fears over the possible faking of the new naira notes, even as most Nigerians have not been able to touch the scarcely available new notes.

Many respondents who had spoken to The Nation said they were afraid of being victims of counterfeits as a viral video raised the alarm over the presence of a counterfeited N1,000 new naira note.Respondents had said they had seen something similar to the N1,000 note claimed to be counterfeit in the viral video, saying the absence of the new notes had made it difficult for people to clearly identify the new notesAccording to the apex bank, to recognise the N1,000 notes, users should look out for intaglio raised print, portrait watermark, officially variable ink that changes from blue to green with change in angle of view, kinegram with the image of N1,000 and Coat of Arms, iridescent band, windowed metallic security thread and see through printing in register.

The security features on N500 notes included hand-engraved portrait, windowed metallic security thread with CBN inscription, CBN 500 watermark, portrait watermark, officially variable ink that changes from blue to green with change in angle of view, silver patch with embossed Coat of Arms, see through printing in register and raised intaglio print.

Also, the N200 has several security features including hand-engraved portrait, windowed metallic security thread with CBN inscription, CBN 200 watermark, portrait watermark, officially variable ink that changes from blue to green with change in angle of view, gold patch with embossed Coat of Arms, see through printing in register and raised intaglio print.

Aside, these criteria, there are also other five simple guidelines on a Naira note that will help holders of the currency to differentiate a counterfeit Naira from a genuine one.

The first step to identifying a genuine banknote from the counterfeit is to check the texture. Findings showed that a soft texture and dull image are indicators of a fake naira. That means one should be sensitive to the touch of the banknote when carrying out a transaction.

There is also need to observe the gold foil on the right side, close to the CBN governor’s signature. One can also differentiate the genuine naira note from counterfeit by applying liquid to the note, and a fake currency can easily change colour.

Also, the ribbon-like thread on all Naira notes can also be observed and touched to confirm if the note is genuine or otherwise.

One can also raise a naira notes on a mercury bulb. This exercise enables the one to see many features of the local currency, not visible to the naked eyes, among others.

Meanwhile, Governor of the Central Bank of Nigeria (CBN, Mr Godwin Emefiele again failed to appear before the House of Representatives yesterday to brief them on the new cash withdrawal limit set by the apex bank.

The CBN governor who initially billed to appear before the House on Thursday, December 15, failed to show up, citing official engagement outside the country with the President as an excuse.

nelson o

See author's posts

Tags: new naira

How you can identify fake new naira note

nelson o

Leave a Reply Cancel reply

Related News

You may have missed