New Naira Notes Stain White Surfaces as Part of Security Features, Printing Firm Says

New Naira Notes Stain White Surfaces as Part of Security Features, Printing Firm Says

  • Nigeria’s foremost printing company, Nigerian Printing and Minting Plc has released more features of the new naira notes
  • The company said it wants to address concerns raised by Nigerians concerning the quality of the new notes
  • The firm stated that the bleaching of the new currency notes is part of its security features

The Nigerian Security Printing and Minting Plc have highlighted some other features of the new naira notes in order to sensitise Nigerians who expressed worry about the quality of the new notes.

The printing company said on Friday, January 6, 2023, in a statement signed by its Managing Director, Ahmed Halilu that it is important to enlighten Nigerians on some of the features of the new naira notes.

New naira notes, Printing company
New naira notes have hidden security feature
Source: Getty Images

According to the statement, the attention of the printing company has been drawn to some video clips, skits, concerns and comments made about the quality of the redesigned notes on many platforms.

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The Punch report said the company stated the need to address the misconception about the quality of the new notes, adding that the company has been meeting the currency needs of Nigerians by supporting the Central Bank of Nigeria (CBN) since 2014.

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The company stated that Nigeria has a zero importation policy concerning its currency and had developed local capacity and conserved forex within the period.

Per the statement from the printing firm, the new notes are of the same substrates and went through the same printing processes and finishing procedures.

The company said:

“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.

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“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.”

Nigerians have raised concerns about the quality of the new notes since they began circulation on December 15, 2022.

They say the new notes are not durable and wash off when they come in contact with water or any liquid.

Nigerians start wash challenge after video goes viral of new naira notes losing colour

Legit.ng reported that following the viral video made by a lady Chinazo under her Twitter name fluffy Naz stating that the new naira note color fades, a number of similar and counter-videos have emerged on the internet.

In the video, she claimed that her sister forgot the redesigned N500 banknote in her pocket and washed it.

According to her, the 500 Naira note colour faded when it eventually dried.

Source: Legit.ng

Authors:
Pascal Oparada avatar

Pascal Oparada (Business editor) Pascal Oparada is a Mass Communications Graduate from Yaba College of Technology with over 10 years of experience in journalism. He has worked in reputable media organizations such as Daily Independent, TheNiche newspaper, and the Nigerian Xpress. He is a 2018 PwC Media Excellence Award winner. Email:pascal.oparada@corp.legit.ng

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