With the newly designed notes already in circulation, you need to know how to protect your business from receiving counterfeit naira notes in exchange for your products or services. Let’s show you five ways to easily spot a fake naira note.
Features of the new naira note
Even though the new naira note is paper, it isn’t printed on regular paper that is commonly found around. If the naira note presented to you feels soft to the touch or in any way makes you question its authenticity, hold on to it and check the following four signs to see if it’s a fake or not.
The gold foil
The new naira note has a distinct feature that most counterfeiters might need help replicating. The new notes have a strip of gold foil near the CBN Governor’s signature. Scratching this gold strip on a fake note will instantly cause it to peel off. On a real note, the gold foil will never peel.
A visible ribbon/thread
The new naira notes and the old ones have a ribbon that runs from the top to the bottom. Simply run your finger along the thread on the new note. If there isn’t a slight bump where the ribbon is, then you’ve spotted a fake note. On a fake note, the ribbon is simply printed onto the note and simply scratching at it will cause it to peel off.
Another way to spot a fake note is by putting it under the light of a mercury bulb. Under this light, if you had a real N1000 note, you would see a shiny 1000 that would normally be invisible. The same goes for the other denominations as well. If you had N500, you would see the number 500 written across the note.
The new Naira notes are protected against photocopying. This is because certain features of the notes are visible under ultraviolet light. When placed under the light of a photocopy machine, it changes colour. The serial number on each banknote is black but turns green under ultraviolet light.
Security features for the 1000 naira note
Security features for the 500 naira note
Security features for the 200 naira note
Stopping people from counterfeiting money is difficult but what’s easy is learning how to spot their fake notes. With any of these six methods, you can protect yourself and your associates from their criminal efforts.
The current series of ₦200, ₦500 and ₦1,000 notes remain legal tender until the deadline of January 31, 2023