The Central Bank Of Nigeria has assured Nigerians that the New N1000, N500, and N200 notes cannot decompose regardless of how it is been saved or stored.
Recall that the CBN Governor Godwin Emefiele had earlier revealed that the new note is made through a printing process and the materials used provide the currency banknotes with distinctive qualities necessary to give the banknotes a long lifespan in circulation.
However, THE WHISTLER on Saturday saw a post made by an Instagram account with the name Omalians_crib who claimed she save the new N1,000 note two weeks ago and it has started decomposing.
THE WHISTLER traced the account but the effort to reach the user was unsuccessful.
THE WHISTLER further contacted the CBN spokesperson person Osita Nwanisobi who revealed via a telephone interview on Saturday that the notes cannot decompose.
Nwanisiobi said “It is not true, there is nothing to clarify, you have the money has it decomposed, it is made to last a long time.
“Anybody can just come out and say anything. The money can not decompose.”
The CBN launched redesigned N1,000, N500 and N200 notes in December with a deadline to withdraw the old notes on January 31, 2023.
Emefiele said the “Naira banknotes are protected by several 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 tactility, while the security thread, which ordinarily, looks broken but is not when held up against the 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.”
The currency banknotes issued in Nigeria are: (N5, N10, N20, N50, N100, N200, N500, and N1000). denominations. The lower denominations ((N5, N10, N20, and N50) are printed on a polymer substrate and are 130 X 72 mm in size, while the higher denominations ( N100, N200, N500, and N1000) are printed on a paper substrate and are 151 X 78 mm in size.
The paper and polymer substrates have specific constituents unique to banknotes. The printing process and the materials used provide the currency banknotes with distinctive qualities necessary to give the banknotes a long lifespan in circulation.