In an effort to reassure Nigerians who have expressed concerns regarding the notes’ quality, the Nigerian Security Printing and Minting Plc has highlighted some of the new naira notes’ features.
On Friday, the company made it clear in a statement that was signed by Ahmed Halilu, the managing director of NSPM, that Nigerians needed to be educated about the new Naira’s features.
He 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,” read one portion of the statement.
“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.”
The Harbinger recall that On October 26, Godwin Emefiele, Governor of the Central Bank of Nigeria, made plans to redesign the N200, N500, and N1,000 notes. He stated that it would begin on December 15 and that Nigerians would have until January 31, 2022, to exchange their previous naira notes.
