Watch Video: Fake New Naira Notes in Circulation, how to Identify - Vanguard Reports

Fake copies of the redesigned Naira notes in the denominations of N200, N500 and N1,000 are currently in circulation, few days after the Central Bank of Nigeria (CBN) released the Notes.

The Vanguard News on Monday reported how a Mobile Money and Bank Agent in a video alarmed the public after a customer performed a bank transaction through his wife’s Point of Sale (PoS) using the fake copy of the redesigned N1,000 Notes.

Describing how to spot the Fake N1,000 Notes, the Mobile Money Agent stated that the original N1,000 note has a gold seal at the bottom of the right hand side of the note and the seal cannot be erase when scratched.

While the Fake N1,000 Note doesn’t have a gold seal at the bottom of the right hand side of the Note close to the signatures.

Watch Video below:

Recall that the CBN released the redesigned Naira Notes on the 15th December,2022. However, the banks are still making payments with the old denominations. 

Banks complained that the quantity of the new Notes cannot go round the economy, hence the need to release it in bit alongside the old Naira Notes.

As the New Naira Notes go in circulation, the public are encouraged to be at alert in order not to fall victims of being swindled with fake copies of the New Naira Notes. 

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