Mr. Godwin Emefiele, Governor of CBN, and Bundles of New Banknotes

Counterfeiting: How to identify new genuine Naira notes, by CBN (Full Features)

*This piece highlights helpful ways to identify genuine or fake Naira notes in order to prevent responsible citizens from being scammed by counterfeiters in the Nigerian economy

Isola Moses | ConsumerConnect

Barely days after the Central Bank of Nigeria (CBN) released the redesigned Naira notes in the denominations of N200, N500 and N1,000, fake banknotes of especially the new N1,000 denomination have been circulated in the economy, according to reports.

ConsumerConnect reports a fake currency is an imitation of currency produced without legal authorisation from the state or government.

Photos: CBN

Identification of original Naira notes from fake pieces in the economy does not require a formal education, there are differences to look for.

This piece reveals how to identify genuine or fake Naira notes in order to prevent responsible citizens from being scammed by counterfeiters.

The Naira, national currency notes, are protected by various security features to enable  easy recognition of genuine banknotes from the counterfeits.

The following are five simple guidelines on a Naira note that will help you to differentiate a counterfeit Naira note from a genuine one, according to CBN:

  1. Check the texture

If the texture of the Naira note is soft and the image in it appears dull, you have the right to be concerned, reject it and demand another one.

This means that you should be sensitive to the touch of the money you are given when involved in any transaction.

  1. Observe the gold foil

The N1,000 note has a gold foil on the right side, just near the CBN Governor’s signature.

If you scratch the gold foil of a fake note, it will peel off instantly but the gold foil on the original note does not peel.

  1. Use water or other liquid

You can differentiate fake currency from the original by using water or other liquid.

Scammers release fake money and the colours they use in printing counterfeits are soluble in water and some other liquids.

If you are not certain about the originality of a Naira note, dip it in water or petrol and scrub it gently.

The colours will change immediately if it is fake money.

The colours of counterfeit money will wash off like an artwork painted with watercolour.

Again, the moment you immerse it in water, the paper becomes messed up.

It will get rough and look more like a paper mache.

However, the real note will not look like this when immersed in water or any liquid.

  1. Examine the ribbon/thread

There is a thread which appears like a ribbon on all Naira notes, running from the top to the bottom.

In real notes, this thread can be felt with a touch.

It is more noticeable on old Naira notes.

However, in fake banknotes, there is something that looks like the thread but it is not.

In the counterfeit notes, what is there is just a straight-line painting that looks like the thread in the original notes.

If you scratch the painting, it will peel off like the solver panel on recharge cards.

  1. Use mercury bulbs

Some qualities of the paper Naira notes cannot be seen with the naked eye.

These features are only in original Naira notes, and one cannot see them except with the help of mercury bulbs.

For instance, if a genuine N1,000 note is placed under the rays from a mercury bulb, it will show a shining 1000 (in numbers) written across the note.

The same is applicable to smaller denominations.

These five simple tips discussed above are enough for anyone to use to differentiate original Naira notes from fake ones.

Kindly Share This Story