A man was caught on camera making counterfeit new naira notes that look exactly like the real thing.
He was seen in a studio-style apartment with two other persons creating numerous copies of the memo and trimming them to size so that it could be passed off as the original.
The individual who shot the video displayed a polished sample of the counterfeit, and many people would be duped if it were used for transactions because only a specialist could tell it apart from the one manufactured by CBN.
See the video below:
Meanwhile, the Nigerian Security Printing and Minting Company (NSPM) previously stated that the new naira notes are stained.
Ahmed Halilu, Managing Director of NSPM, stated this in a statement while emphasizing several aspects of the new N200, N500, and N1,000 notes.
He stated that this was done to alert those who have expressed concerns about the quality.
“The attention of the Nigerian Security Printing and Minting Plc has been drawn to various clips, skits, concerns, and comments on various platforms regarding the quality of the recently unveiled and issued redesigned banknotes by the Central Bank of Nigeria,” Halilu stated.
“As the nation’s foremost security printing and minting company tasked with producing the country’s currency (naira), we believe it is necessary to address the key issues and further educate Nigerians on the features of the currency and, most importantly, the value of the naira.”
Since 2014, the NSPM Plc has been serving Nigeria’s currency demands with the help of the Central Bank of Nigeria. During this time, Nigeria has achieved zero currency imports, developed local capacity, and, to some extent, conserved foreign exchange.
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“We want to inform all Nigerians that the new naira notes are made from the same substrates and went through the same printing and finishing procedures as the old ones.”
As a result, it is essentially the same as the other notes in circulation. When rubbed on plain white surfaces, it also leaves traces of intaglio inks. It is crucial to note, however, that fresh banknotes are normally light when issued, but get heavier in circulation after coming into touch with dirt and moisture.
Furthermore, the second stage of currency printing (Intaglio) necessitates a heavy deposit of special inks with relatively large particles in order to provide a tactile feel of the portraits as well as other raised prints by design.”