How you fit identify fake new naira notes
By Princess Williams
BBC news, Pidgin
Wia dis foto come from, Bayo Omoboriowo
Nigerians don begin ask about weda di newly redesign naira notes get counterfeit.
Dis na afta one man raise alarm of fake naira notes for one video wey don go viral for social media.
For di viral video, one man claim say somebody pay im wife wey be Point of Sale (PoS) operator with fake N1,000 new naira note.
Di man come even display wetin e claim to be fake N1,000 notes and di original for pipo to notice di difference inside di video.
Dis dey happun four days afta Central Bank of Nigria, (CBN) begin roll out di newly redesign naira notes on 15 December, 2022.
How to sabi difference between original and fake naira notes
Wia dis foto come from, Bayo Omoboriowo
Di Naira banknotes dey protected by some number of security features to make am dey easy to spot di fake and di original one.
End of Di one wey oda users dey read well well
Central Bank of Nigeria explain for dia website say pipo fit know di original naira notes wen dem touch and see am through di raised print, security thread and watermark.
“Di distinguishing features wey pipo fit recognize by touch and visibility na di raised print, di security thread and di watermark.”
CBN say di raised prints provide di tactility, (dat na di ability to feel am if pesin touch am).
While di security thread, wey ordinarily look broken but no dey broken if you put am in front of light, get "CBN" wey dem write in small lettering print for both sides of di notes.”
CBN say oda areas to identify di original notes be say di portrait, lettering and di denominational numerals (dat na di naira value) for di front and back of di money, dey in print wey dey very bold from di surface.
“Oda areas like di portrait, lettering and di denominational numerals wey dey di obverse and reverse (front and back) of di notes dey embossed,” CBN tok.
Di Central bank of Nigeria say di Naira notes also dey protected against photocopying.
Di original naira also get features wey dey visible under ultraviolet light; for example, di serial number on each banknote na black, but go turn green under ultraviolet light.
Di features wey CBN don highlight no dey for di fake or counterfeit naira notes.
Fotos of security features wey dey new naira notes
Wia dis foto come from, Central Bank of Nigeria
Wia dis foto come from, Central Bank of Nigeria
Wia dis foto come from, Central Bank of Nigeria
According to di Central Bank of Nigeria e dey unlikely for fraudsters wey dey do counterfeit money to get full knowledge of all security features.
Dis na as CBN dey constantly upgrade di banknotes with state of di art security features to stay ahead of counterfeiters.
How Central Bank of Nigeria dey circulate di currencies
Wia dis foto come from, Central Bank of Nigeria
Central Bank of Nigeria go move out di finished banknotes form Nigerian Security Printing & Minting (NSPM) Plc for distribution to all CBN branches.
Di branch go come distribute di banknotes to Deposit Money banks (DMBs) where dem go come finally release am to di public through withdrawals.
Background to di redesign of di naira notes
Wia dis foto come from, Other
On 26 October 2022 President Muhammadu Buhari approve di redesign, production, and circulation of new series of N200, N500, and N1,000 banknotes.
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Dis announcement cause serious debates among Nigerians ontop weda or not di Central bank of Nigeria follow due process to redesign di kontri currency.
CBN come issue statement on 29 October 2023 say dem follow di law, due process for Naira redesign and even di exercise don dey overdue 12 years.
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CBN Govnor, Godwin Emefiele explain say di reason why dem redesign di money na sake of request from federal goment to check corruption and counterfeiting of di notes.
E say CBN get hope say di redesign currency go help to control inflation, assist with di implementation of Monetary Policy, and help increase financial inclusion, as di kontri dey move to cashless economy.
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On 23 November 2023, President Muhammadu Buhari unveil di new series of di ₦200, ₦500 and ₦1000 banknotes afta di back and forth debate on di mata.
And on 15 December 2022 di Central Bank of Nigeria officially introduce di newly redesign naira notes begin roll am out to di public.
Meanwhile, Central Bank of Nigeria don put deadline of 31 January, 2023 wen di use di old N200, N500 and N1,000 notes go stop.
Wia dis foto come from, BAYO OMOBORIOWO
However oda notes like ₦5, ₦10, ₦20 and ₦50 go still dey valid afta di January 31 deadline.
Dis na because goment no change di design of di lower currency wey be polymer notes.
Currently for Nigeria, di currency banknotes wey dem dey use dey in: (₦5, ₦10, ₦20, ₦50, ₦100, ₦200, ₦500 and ₦1000). denominations.
Di lower denominations ((₦5, ₦10, ₦20, and ₦50) dey printed on polymer substrate and dey 130 X 72 mm in size.
While di higher denominations ( ₦100, ₦200, ₦500 and ₦1000) dey printed on paper substrate and dey 151 X 78 mm in size.
