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Business News of Tuesday, 14 September 2021


List: Five most effective ways to identify fake naira note

Photo used to illustrate the story Photo used to illustrate the story

Nowadays, buyers and sellers complain of discovering the notes with which they were paid are fake or counter.

The Nation reports that the use of counterfeits is punishable under the Nigerian constitution whether you’re aware or not.

According to the report, lists five most effective ways to identify fake naira notes:

1. Go for the thread

Each naira note has this slim-like strip that runs from the top to the base. What you would only see is a lookalike but not the real thing.

2. Make use of water or liquid-like petrol

To know a counter, which is a decorated currency, immerse in water and wash gently against your palm, you will see the colors and watermark wash off. However, the real note won’t look like this when immersed in water or any liquid.

3. Use mercury bulbs

Through this way, naira notes can easily be recognized, some features of the naira notes cannot be seen with naked eyes.

These features are only in original naira notes and one cannot see them except with the help of mercury bulbs. Get the naira note in question under a working mercury bulb.

On a genuine ₦1000 note, you will see “₦1000” written across it in a neon yellow hue. The bulbs would catch any features the human eyes may not see.

4. Check the gold foil

The N1000 note has a gold foil on the right side beside the CBN governor’s signature. You should have it in mind that if you peel the foil of a fake note it will peel.

So if the above number two option is too hard for you and you are holding a N1,000 note, you should try to peel off the foil. If it does peel, that means it is fake.

5. Paper and colour quality

While counterfeits are made of ordinary papers, real money is made of an exceptional sort of paper. Feeling the paper quality of counterfeits, you’ll find out that it’s just ordinary paper. The colours of counterfeits also betray it.

The drawings on counterfeits are more blurry, blotchy and sometimes darker than real paper money.