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CBN reveals security features of new naira notes as fakes circulates

  • Business

To save Nigerians from falling victim of fake naira notes, the Central Bank of Nigeria (CBN) has released the security features of the new naira notes.

This was made known in a document released by the Apex Bank on Tuesday.

The security features of the new Naira notes show 23 features on the N1,000 note, 15 features on the N500 note, and 10 features on the N200 note.

image1 1 | CBN reveals security features of new naira notes as fakes circulates | The Paradise News

image2 | CBN reveals security features of new naira notes as fakes circulates | The Paradise News

The release of the security features has brought relief to many Nigerians who have demonstrated fear over counterfeiting of the Naira notes.

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According to the CBN, the naira banknotes are protected by a number of security features to enable the easy recognition of genuine notes.

The distinguishing features which can be recognized by touch and visibility are the raised print, the security thread and the watermark. Other areas such as the portrait, lettering and the denominational numerals on the obverse and reverse of the notes are embossed.

The raised prints provide the tactility, while the security thread, which ordinarily looks broken but is not when held up against light, has “CBN” in small lettering printed on both sides of the notes.

The Naira notes are also protected against photocopying. There are also features, which are visible under ultraviolet light; for example, the serial number on each banknote is black, but turns green under ultraviolet light.

Meanwhile, fake copies of the new N1000 naira notes have started circulation.

A mobile money and bank agent in a video disclosed this saying that a customer performed a bank transaction through his wife’s Point of Sale (PoS) using a fake copy of the redesigned N1,000.

He went ahead in the video to show the difference between the fake and original redesigned N1,000 note.

According to him, the original note has a gold seal at the bottom of the right-hand side of the note and the seal cannot be erased when scratched.

While the fake one doesn’t have a gold seal at the bottom of the right-hand side of the note close to the signatures.

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