CBN highlights security features of new notes

The Central Bank of Nigeria has highlighted the security features of the newly redesigned N200, N500 and N1,000 notes.

The disclosure was announced amid rumours that counterfeit units of the new notes are in circulation.

The bank had on December 6 announced its plans to redesign the naira notes as part of efforts to check inflation, counterfeiting and corruption.

But since the CBN began the distribution of its newly redesigned bank notes, there have been reports of some Nigerians presenting fake notes to vendors. Retailers and commercial transport workers have equally been reluctant to accept the new notes.

Recently, a video circulated online in which a food vendor rejected the new N1000 note from a customer. Nigerians online blamed the level of acceptance on illiteracy and poor sensitisation on the part of the government.

As part of efforts to create awareness, the CBN released pictures of each note showing where to look out for the special features.

For easy recognition, the genuine notes are differentiated by the raised print, the security thread, and the watermark, it said.

READ ALSO: Amidst COVID-19 challenges, Nigeria’s economy grows again

In a document explaining the special features of all the naira notes published on its site, the apex bank said the 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,” the document reads.