Nigerian Security Printing and Minting Plc has highlighted some features of the new naira notes to raise awareness among Nigerians who have expressed concerns about the quality of the notes.
In a statement signed by NSPM Managing Director Ahmed Halilu on Friday, the company stressed the need to inform Nigerians about the features of the new Naira.
The statement read in part: “The attention of Nigerian Security Printing and Minting Plc has been brought to various clips, skits, concerns and comments on various platforms regarding the quality of the redesigned banknotes that were recently unveiled and issued by the Central Bank. from Nigeria.
“As the country’s largest security printing and minting company, with responsibility for producing the country’s currency (naira), we believe it is appropriate to address the most prominent issues and educate Nigerians more about the characteristics of the currency and , more importantly, the misconception about the quality of the new naira banknotes.
“NSPM Plc has been meeting Nigeria’s foreign exchange needs with the support of the Central Bank of Nigeria since 2014. In fact, Nigeria has achieved zero foreign exchange imports, built local capacity and to some extent conserved foreign exchange. in this period. ”
“We want to inform all Nigerians that the new naira banknotes are from the same substrates and went through the same printing processes and finishing procedures.
“It is, therefore, basically the same as the other banknotes in circulation. It also leaves traces of gravure inks when rubbed on smooth white surfaces. However, it is important to note that new banknotes are generally light when issued, then become heavier in circulation upon contact with dirt and moisture.
“In addition, the second stage of coin printing (Intaglio) requires a heavy deposit of special inks with particles large enough to give a tactile feel to the portraits, as well as other relief printing by way of design.”
CBN Governor Godwin Emefiele had announced plans on October 26 to redesign the N200, N500 and N1,000 notes. He said it would take effect from December 15 and Nigerians have until January 31, 2022 to exchange their old naira notes.