Few Days After Release, Fake New 1000 Notes Are In Use
Only a few days after the Central Bank of Nigeria, CBN, released the redesigned naira notes in the denominations of N200, N500, and N1,000, fake copies of the new N1000 notes were found in circulation.
A mobile money and bank employee stated in a video that a client had used a fake N1,000 to do a bank transaction at his wife’s Point of Sale (PoS).
He continued in the video to demonstrate the distinction between the genuine and modified N1,000 note.
He claims that the original note includes a scratch-proof gold seal at the bottom of the right side that cannot be removed.
The old one has a gold seal at the bottom of the right side of the note near the signatures, while the old one does not.
Recall that on December 15, 2022, the CBN published the newly designed naira notes.
Banks continue to process transactions using the previous denominations, nevertheless.
They griped that there weren’t enough fresh notes to spread across the economy. Therefore, it must be released in pieces together with the previous remarks.
