The Central Bank of Nigeria, announced the printing and distribution of a new design for the Naira currency, accompanied by the deadline for the circulation of the old Naira notes set for the 31st day of January, 2023.
The emergence of the new Naira notes have, however, caused an hysteria, as well as made an impression, be that positive and other wise. It would be important to mention, that the affairs of the Central Bank of Nigeria as an entity and also of the CBN governor in particular, in recent times, have been a matter of public deliberation.
Considering the alleged Cash deposit and transfer fraud, the review of the cash withdrawal policy and the fiery desire by the Nigerian Government to arrest the Governor of the CBN, Godwin Emefiele. There have been several reports of altercations between several entities regarding the authenticity of the Naira notes passed between transactions. Furthermore, there has been a mild rejection of the design and characterization of the new Naira notes, also an uproar regarding the quality of the materials used in the creation process.
The Central Bank of Nigeria has released a graphic which has identified the public features of the new Naira notes, to enable the public to identify and ascertain the authenticity of any currency they come into contact with. Ten (10) different characteristics contained within the latest Naira have been displayed below, by a graphic released by the official social media accounts and on the official website of the Central Bank of Nigeria, which on the face of the currency contains;
1. An Intaglio raised print.
2. A Portrait watermark.
3. Optically variable ink (which changes from blue to green with change in view angle).
4. Kinegram (with the coat of arms).
5. An Iridescent band.
6. Windowed metallic security thread.
7. See through (printing in register).
8. A Silver patch (anti scan).
9. Hand engraved portrait.
10. CBN Naira watermark.