Barely a few days after the launch of the redesigned naira notes, there are reports of the notes being counterfeited.
Although the notes are not fully in circulation, it is important to understand the security features of the new notes so one does not receive the counterfeit ones.
At the unveiling of the new notes, the Central Bank of Nigeria stated that they are loaded with security features which make them uneasy to counterfeit.
The CBN has released details of and positions of the security features of the new notes, according to information from Vanguard.
At the front of the redesigned N1000 note, the CBN shows close to its name a security feature of intaglio raised print, a portrait watermark, and optically variable ink in the form of a rectangular arrow pointing downwards.
There is also a kinegram of the N1,000 note and the Nigerian Coat of Arms. At the back of the N1,000 note are an Iridescent band, windowed metallic security thread, a see-through printing register and a raised intaglio print.
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At the front of the new N500 note are hand-engraved portraits and windowed metallic security thread with CBN inscription.
Others include optical variable ink, see-through printing in Register, and a raised intaglio print at the front.
Almost the same features are replicated in the new N200 note, except for a gold patch with an embossed Coat of Arms.
