Old and new naira notes to co-exist until further notice, Supreme Court rules
New naira notes

The Central Bank of Nigeria (CBN) has commenced its sensitization campaign on the importance of accepting the new currency notes.

The Senior Manager, Currency Operations Department, Shamsudeen Imam at Gombe International Market disclosed that the currency change was a good step with lots of benefits to the economy.

While speaking on the basic security features for the new naira notes, Imam said, “Some counterfeiters find it difficult to counterfeit some features. The issue of colour; if you are carrying an original currency if you use handkerchief the colour will come out; it means that currency is original but if it is fake if you put handkerchief, the colour will not come out. The watermark is basic another basic security feature.”

According to him, other countries change theirs every five years.

“Globally, currencies are designed every five to eight years but for Nigeria, it is long overdue. Some of our currencies have stayed for 14 to 20 years, so it is the right time to redesign our currency.”

News continues after this Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here