REDESIGNED BANKNOTES: NSPM URGE NIGERIANS, OTHERS NOT TO SUBJECT NEW NAIRA NOTES TO EXPERIMENT
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By Aishat Momoh. O.
The Nigerian Security Printing and Minting PLC has asked Nigerians and other users of Naira not to subject the new banknotes to experiment in order to prove a point.
According to Ahmed.A. Halilu, the managing Director and Chief executive of NSPM, in a statement released on January 6, 2023, the new Naira notes are of the same substrates like the old Naira notes and have also, passed through the same Printing processes and finishing procedures.
He also, noted that the new banknotes are generally light when issues, but, then it becomes heavier in circulation on getting in contact with dirt and moisture.
The statement reads, “The attention of the Nigerian Security Printing and Minting (NSPM) Plc has been drawn to various clips, skits, concerns and comments on various platform regarding the quality of the redesigned banknotes that were recently unveiled and issued by the Central Bank of Nigeria (CBN).”
“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 Naira and, most importantly, the misconception about the quality of the new Naira notes.”
“The NSPM Plc has been meeting the currency needs if Nigeria with the support of the Central Bank of Nigeria since 2024. 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 note in circulation. It also leaves traces of Intaglio in it when rubbing on plain white surfaces.
It is, however important to note that the new banknotes are generally light when issued, then becomes heavier in circulation of getting in contact with dirt and moisture.”
“In addition, the second stage of currency printing (Intaglio) requires a heavy deposit if Special inks with fairly large particles to give a tactile feeling of the portraits as well as other raised prints by way of design. One of the properties of Intaglio Inks is non-solubility in water and ease if transfer (Light Stain) on plain white materials owing to the size f the particles. This is generally a security fetures
of all banknotes that easily differentiates them from forged or counterfeited not.”
“The Naira is our legal tender and national symbol. We, therefore, urge Nigerians and other users of the Naira banknotes not to subject our banknotes to experiment in order to prove a point.”
“Finally, we assure all Nigerians that best international practices have been deployed in the production of our National Symbol, (Naira(, and we shall continue to ensure that it meets international standard.”
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