CBN WARNS OF FAKE 100 NAIRA NOTES IN CIRCULATION

Central Bank of Nigeria, CBN has raised alarm over fraudsters attempting to deploy new N100 commemorative centenary banknote into circulation.

A circular posted on the apex bank’s website yesterday warned the general public on what to look out for in the new N100 note in circulation.
According to CBN the steps to follow and ensure the banknotes are genuine include: Check the paper and the raised embossed print.
This can be done by running fingers across the front of the new note; it 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.
Also the Motion 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.
And to 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,” according to the CBN circular.
Another feature include the Optical Variable Magnetic Ink OVMI Spark: A rolling bar that changes colour from green to purple when tilted. This feature is superimposed on two squares with a manila, which are strategically placed at the front of the banknote.
The new note also has the QR Quick Response Code: Digitalized 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.
In case of the Serial Number, a unique seven digit novel serial numbering, consisting of letters and numbers printed on the front side of the new note is important to observe. The horizontal number is conical, that is, it grows in height from left to right.
Also there is the See through feature, located on the front of the note left corner, effect is produced on coconut.
Tactile marks for the visually impaired: Pronounced raised lines on the left and right corner on the front of the banknotes. President, Dr. Good luck Jonathan unveiled the N100 centenary commemorative banknote on 12th November, 2014.