The CBN has released a statement warning the general public to be careful of the money they accept from people. The reason is that they have discovered that there are a lot of fake money in circulation and the country. As the year is coming to an end let's try and not fall victim of receiving fake money in our businesses so it won't affect our next year and it will not land us Into problem.
https://www.talkimg.com/imagles/2023/12/09/EuoWc.jpegThis issue of counterfeit or fake money has been in existence for long and during the naira redesign a lot of scammers and fraudsters used this fake money to give to people and due to the fact that alot of people where even very incusitive for a way to get the new note made so many persons fall victims of these fake currency otherwise counterfeit. It is good to check the money that you're being given by anyone thoroughly to make sure that it isn't a counterfeit and these fake notes are more common in #500 and #1000 denominations so it is important to check some features that can be used to differentiate the original note from the fake ones features like touch quality, when you hold an original note you will find out that it has high printing quality that makes it look as if it is hard or cannot easily be teared unlike fake ones, secondly the Serial Number, Ribbon, and Gold foil.
For example THE SERIAL NUMBER TEST
https://talkimg.com/images/2023/12/09/Eu0Ka.jpeg The highlighted area is where the serial number is so when you place something like Mercury and check the black serial number it will look as if it is turning green when you check through the mercury. So if it doesn't turn green that means it's fake.
THE RIBBON TEST
https://talkimg.com/images/2023/12/09/EuqfN.jpegThe Ribbon test is also another means to identify an original note just like it is being highlighted in the picture, it cut across from the top to the bottom just like broken lines with CBN inscription in it so it's also a way to check fake from original naira notes.
Lastly THE GOLD FOIL TEST.
https://talkimg.com/images/2023/12/09/EuxAo.jpegJust like inscribed in the picture above, the gold foil cannot be scratched out so in a case where you scratch it out just know that it's fake. the gold foil has the Nigeria coat of arm inside it and 1000 is being written just under the gold foil.
It is important to check these features thoroughly before taking the money though sometimes people can be so annoying by telling you that do you feel they're giving you counterfeit? Just disregard them and do your checking as any fake money you possess becomes irrelevant and worthless and if you're caught trying to spend it to another person then you might be apprehended by the government so prevention is better than cure.
