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CBN highlights features on new N100 banknote

By on January 20, 2015

In order to protect currency users in the country from counterfeiters, the Central Bank of Nigeria (CBN) has highlighted the basic look, feel and tilt security features on the new commemorative N100 banknote for easy identification of genuine currencies.

It urged currency users in the country to always check the paper and the raised embossed print by running their fingers across the front of the new note, saying “you will feel the raised prints in areas such as ‘Central Bank of Nigeria’, the image of Chief Obafemi Awolowo and the N100 numeral on the top left and bottom corners.”

It also advised that the motion thread should be checked, adding that the security thread is embedded on the banknote.

“It appears as green dashes in the front of the new note with ‘100’ and Nigerian flag moving when tilted.

“Check the water mark: Hold the note up to the light with the front of the note facing you. In the clear area on the right, you will see an image of Chief Obafemi Awolowo’s portrait together with a 100 numeral. Any banknote that does not contain a watermark is not genuine,” it added.

Furthermore, the regulator urged currency users to check the Optical Variable Magnetic Ink (OVMI Spark), which is a rolling bar that changes colour from green to purple when tilted. This feature, according to the central bank is superimposed on two squares with a manila, which are strategically placed at the front of the banknote.

“Check the QR (Quick Response) Code: Digitalised barcode that tells the centenary story when scanned with an internet enabled mobile device or an Ipad. It is located at the back of the note.

“Check the Serial Number: A unique seven digit novel serial numbering, consisting of letters and numbers printed on the front side of the new note. The horizontal number is conical, that is, it grows in height from left to right,” it added.

President, Dr. Goodluck Ebele Jonathan had unveiled the N100 centenary commemorative banknote on 12th November, 2014. The CBN Act of 2007 charges the central bank with the responsibility for the issuance and management of the legal tender currency.

The Bank is charged with the responsibility to plan for the printing, issuance and management of the legal tender currency in Nigeria.

The Rationale for the introduction of the new N100 commemorative banknote was to celebrate Nigeria’s centenary (100 years of existence)

 

[ThisDay]