Amidst concerns of counterfeiting, the Central Bank of Nigeria (CBN) on Wednesday, released details and position of the security features in the new Naira notes. There had been concerns from Nigerians after the Deposit Money Banks (DMBs) started circulating the notes last week.
Many respondents who spoke to Daily Sun 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.
However, the CBN in a statement obtained from its website noted that to recognize 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.
Describing the security features on N500 note, the CBN said that the note includes a 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.
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.
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.
