Video: Beware Of Fake New Naira Notes In Circulation

A few days after the circulation of the newly released naira notes, fake new naira notes have been released into the system. 

Read Also: ‘We Were Told To Write Down Serial Numbers Of New Naira Notes’ – Bank Staff

A mobile money and bank agent in a video disclosed this saying that a customer performed a bank transaction through his wife’s Point of Sale (PoS) using fake new naira notes of the redesigned N1,000.

He went ahead in the video to show the difference between the fake and original redesigned N1,000 note.

According to him, the original note has a gold seal at the bottom of the right-hand side of the note and the seal cannot be erased when scratched.

While the old one doesn’t have a gold seal at the bottom of the right-hand side of the note close to the signatures.

The Eagle reports that the Central Bank of Nigeria, CBN, on 15 December released the redesigned naira notes in the denominations of N200, N500 and N1,000,  into circulation with Deposit Money Banks releasing the bills to customers via over-the-counter payment.

Read Also: Why Naira Redesign Will Affect The Poor, SMEs – World Bank

However, the banks are still making payments with the old denominations. They complained that the quantity of the new notes cannot go round the economy. Hence the need to release it in bits alongside the old notes.

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