How to identify fake Naira notes; security features – CBN

The Central Bank of Nigeria(CBN) has in a bid to protect Nigerians from falling victim to counterfeiters, released details and position of the security features in the new naira notes.

Details and positions of the security features are highlighted in the document below as released by the CBN.

Recall, the Governor, Central Bank of Nigeria, Godwin Emefiele, had in October announced that the apex bank would release re-designed naira notes by December 15, 2022.

He also disclosed that the old notes would cease to be regarded as legal tender by January 31, 2023.

Emefiele pointed out that the redesigning of the naira notes would help to curb counterfeit notes and reduce ransom payments to terrorists and kidnappers.

The CBN boss said it was worrisome that 85 percent of the total currency in circulation was being hoarded by Nigerians.

As such, he said the redesigning of the local currency would help to mop up the currency outside the banking sector, adding that out of about N3.3tn in circulation, close to N2.75tn were outside the banking sector.