New naira notes designed to stain white surfaces – Printing and Minting

The new naira notes have a security feature that causes them to stain white surfaces, according to the Nigerian Security Printing and Minting (NSPM), which has notified Nigerians of this.

This was stated in a statement released on Friday by Managing Director of NSPM Ahmed Halilu, who also highlighted some of the new N200, N500, and N1,000 notes’ features.

He explained that this was done to sensitize those who had voiced concerns about the product’s quality.

Halilu said; “The attention of the Nigerian Security Printing and Minting Plc has been drawn to various clips, skits, concerns and comments on various platforms regarding the quality of the redesigned banknotes that were recently unveiled and issued by the Central Bank of Nigeria.

“As the nation’s foremost security printing and minting company saddled with the responsibility of producing the country’s currency (naira), we find it expedient to address the salient issues and further enlighten Nigerians on the features of the currency and, most importantly, the misconception about the quality of the new naira notes.

“The NSPM Plc has been meeting the currency needs of Nigeria with the support of the Central Bank of Nigeria since 2014. Indeed, Nigeria has achieved zero importation of currency, developed local capacity and, to an extent, conserved foreign exchange within this period.

“We want to inform all Nigerians that the new naira notes are of the same substrates and passed through the same printing processes and finishing procedures. It is, therefore, basically the same as the other notes in circulation. It also leaves traces of intaglio inks when rubbed on plain white surfaces. It is, however, important to note that new banknotes are generally light when issued, then become heavier in circulation on getting in contact with dirt and moisture.

“In addition, the second stage of currency printing (Intaglio) requires a heavy deposit of special inks with fairly large particles to give a tactile feeling of the portraits as well as other raised prints by way of design.”

Recall that on October 26, 2022, Central Bank Governor Godwin Emefiele announced plans to revamp larger denomination notes.

The deadline for Nigerians to swap their old naira notes for new ones is January 31, 2022.

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