Today buyers and sellers are complaining that the banknotes they were paid for are counterfeit or counterfeit.
The Nation reports that whether you know it or not, using counterfeits is a criminal offense under the Nigerian Constitution.
1. Go to the thread
Each naira note has this narrow strip that runs from top to bottom. What you would only see is a doppelganger, but not the original.
2. Use water or a liquid like gasoline
To know a meter that is a decorated currency, soak it in water and wash it gently against yours Palm, you will see the colors and the watermark wash off. However, the real note does not look like this when it is immersed in water or a liquid.
3. Use mercury bulbs
This way, naira notes can be easily recognized, some features of the naira notes are invisible to the naked eye. These features can only be seen in original naira notes and can only be seen with the help of mercury bulbs.
Place the naira note in question under a working mercury bulb. On a real 1000 note, “₦ 1000” is written over it in a neon yellow shade. The lightbulbs would capture all features that the human eye may not see.
4. Check the gold foil
The N1000 bill has gold foil to the right of the CBN governor’s signature. You should keep in mind that if you peel off the foil on a counterfeit banknote, it will peel off.
If option number two above is too difficult for you and you hold an N1,000 -Note, you should try to peel off the foil. If it comes off, it means it is fake.
5. Paper and color quality
While counterfeits consist of ordinary paper, real money consists of an unusual type of paper. When you feel the paper quality of counterfeits, you will find out that it is just plain paper. The colors of the forgeries also give it away. The drawings on counterfeits are more blurred, blotchy and sometimes darker than real paper money.
One pound reaches N745, as the CBN ban on exchange offices affects availability
It has been reported that the naira was converted from N545 to $ 1 on the foreign exchange market today, where it left off where it left off last week on Friday and was more than 3% (N530) higher than that for the Nigerian currency traded on Monday last week.
The pound opened the currency market higher than the N743, which it sold last week on Friday after parallel market customers against a pound on Monday N745.