Fake Naira Notes:How To Identify Them As CBN Reveals Security Features of New Naira(See Features)-Eagle’s Sight News
One could imagine how fraudulent and disappointing it is when fake naira notes are used in exchange of goods and services provided for some clients. The activities of fraudsters have not seized as they are conversant with updates on the currency for their fraudulent activities and mischievous agendas –Eaglessightnews reports..
Just fews days after the Central Bank of Nigeria (CBN) released the redesigned Naira currency in the denominations of N200, N500 and N1,000, fake notes of the new N1000 Naira notes have been circulated in the economy.
In order to to save Nigerians from fallen victims 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.
The release of the security features has brought relief to many Nigerians who have demonstrated fear over counterfeiting of the Naira noteThe 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.
The release of the security features has brought relief to many Nigerians who have demonstrated fear over counterfeiting of the Naira notes.
One of such people is Olachi Obina, Lotto operator who said, “I don’t like it because it can easily be faked.”
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.