The National Orientation Agency (NOA) has called on residents, traders in Ilorin, Kwara state to be vigilant as counterfeit N1,000 notes flood markets.

Several traders have shared their experience on the fake notes, which closely mimic both the old and redesigned N1,000 bills.

Abdulganiyu Olurotimi Dare, NOA’s state director, warned that the criminal syndicates are exploiting peak market hours to target unsuspecting merchants and Point of Sale (POS) operators.

He said the counterfeit bills bear batch numbers 364232 and 898248 and can be spotted through blurred portraits, irregular security features, and faulty watermarks, DailyTrust reports.

He told reporters:

“We urge residents to scrutinize every ₦1,000 note they receive, especially during large cash transactions."

Traders share experience on fake 1,000 notes

Olarewaju Kunle, a Pos Operator, said he discovered the fake notes only while reconciling accounts at the end of the day.

He said: “It was an outright loss for me." Pepper seller Mallam Nasiru Salisu also recounted receiving one from a female customer.

He said.

“It was only when a POS operator flagged it that I realised. I had to destroy it afterwards."

Meat vendor Alhaji Rasheedat said she noticed ink peeling off a N1,000 bill within 30 minutes of receiving it, raising her suspicions.

How to spot fake new naira notes

According to the Central Bank of Nigeria (CBN), genuine N1,000 redesigned notes carry:

- Portraits of Alhaji Aliyu Mai-Bornu and Dr. Clement Isong

- Optically Variable Ink (OVI) that changes colour with viewing angle

- A gold kinegram patch with “N1000” and Nigeria’s coat of arms

- Electrotype watermark visible against light

- Raised intaglio print that feels rough to the touch

- Windowed metallic security thread that shimmers when tilted

- Older N1,000 notes share many of these features, though the design differs slightly.

Quick checks for counterfeits

Texture: Real notes are crisp with raised prints; fakes often feel soft and dull.

Ribbon thread: Genuine bills have embedded threads, while fakes may use painted lines that peel when scratched.

Serial numbers: Each note has a unique number; duplicates are suspect.

Under UV light: Authentic bills display glowing security threads and denomination text, with serial numbers shifting from black to green.