Counterfeiting beclouds adoption of new naira notes
By Felicia Nwosu
The newly released redesigned naira notes by the Central Bank of Nigeria (CBN) on the 15th of December, 2022, has continued to raise some dust from Nigerians who have expressed fears over the immediate emergence of counterfeited version of the currency, few days after its release.
Apart from the general complain about the aesthetics of the notes, counterfeits of the N1, 000 are trending on the social media with victims relating their experiences thus affecting the easy adoption of the new naira notes by the generality of Nigerians.
According to some residents, the counterfeited version is prevalent with the N1, 000 denominations, leading to consumers becoming very skeptical to embrace the currency for exchange. This has also caused a lot of misunderstanding between some passengers and bus conductors who refuse to accept the new currency from passengers, as most of them complain of the currency quality and express fear that they may be counterfeits.
The trending video showed the counterfeit note side by side the original. The man that recorded the video said the fake note was used to transact business on his wife’s Point of Sale (PoS) gadget. He educated Nigerians by showing the difference between the fake and the original highlighting the district security feature on the original.
In the video, he explained that the original note has a gold seal at the bottom of the right hand side of the note and the seal cannot be erased when scratched.
Meanwhile, some people have also complained about the unavailability of the new currency in circulation, it has been observed that some people are already hawking it at parties.
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