The Central Bank has announced that a lot of fake currencies are presently in circulation in Nigeria. So what are the easiest ways to identify the fake in the system? With all kinds of narratives about fake notes in circulation, individuals are frantic about losing their hard-earned money. Therefore, here are several ways to identify fake notes.

The Touch Test: Genuine Naira notes have sharp and precise printing that can be easily felt by touch. Fake notes often have dull colours and poor printing quality. The colours may also not match those on genuine notes.

So, if the note you are given is flat and dull, it’s probably fake.

The Serial Number Test: The black serial number on each note transforms to green under ultraviolet light. That is one of the security features introduced to tackle imitation.

Also, genuine naira notes have unique serial numbers printed in a specific font. The N1000 note has the serial in the back, while the N200 and N500 have it in front.

Gold Foil Test: In an original N1000 note, a gold foil on the right side cannot be scratched off. Within the gold foil is Nigeria’s coat of arms and 1000 written underneath it.

The money is fake if you receive a note with no foil or if the foil is easily scratched off.

The Ribbon Test: The new Naira notes feature a security thread that appears broken but becomes a continuous line when viewed against the light. This thread appears on the back of the N1000 note and on the front of the N200 and N500 notes. It also has the ‘CBN’ letters printed on both sides of the notes in small lettering.

Culled from Daily Times Nigeria