Fraudsters men cannot produce a real Naira note. That’s a fact. Even if they can, they can’t produce real note without bloating overhead cost. In view of this, there are always obvious differences between a real Naira note and its counterfeit.
These differences are not hidden; they are there only if you look well enough, even for an untrained eye.
Recently, we have seen an emerging trend in fraudsters creating and using fake currencies to make deposits and payments. This new trend of using fake Naira notes has cost some of business men and women a lot of money thereby, running at a loss. They have also targeted POS agents for fake counterfeit deposit especially to some of the POS attendants.
The production of these counterfeit currencies is a severe threat, and everyone needs to be at alert to this new fraudulent practice. It is also vital to know that fake notes are not only printed in large denominations like N1,000, they can also be printed in smaller denominations. Although the technique seems to be improving day by day, but don't worry, you can still detect these fake notes.
Here's a simple guide to help you identify real naira notes printed and circulated by the Central Bank of Nigeria:
Check the Texture; Fake naira notes are typically made from ordinary paper, while genuine notes are made from a special kind of paper. It is essential to check the quality and texture of the Naira notes received before accepting them as payment for a service.
Use Water or Other Liquid; If you are suspicious of a note received, dip it into water or petrol and scrub gently with your thumb. If the money is fake, the colour will wash off easily. Actual notes are water-resistant; hence the colours will not wash off.
Check the Ribbon; Every genuine naira note has a silver ribbon embedded from the top to the bottom of the naira note. With real notes, the silver thread can be felt; even in old naira notes, this thread is still visible. However, in fake notes, something looks like a thread, but it's just the paint. Try scratching that ribbon, and it comes off easily.
Use Mercury Bulb; Other features of the Naira note can't be seen with naked eyes. These features can only be seen on genuine naira notes and can only be visible with some pieces of equipment. With the use of mercury bulbs, you can spot the difference between fake and genuine notes.
Please note that the use of counterfeit notes is punishable under the Nigerian constitution. It does not matter if you are aware or not because ignorance is not an excuse in the Nigerian court of law
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