National DevelopmentNewsNigeriaMINT Warns Nigerians to Stop Experimenting with New Banknotes

The Nigerian Security Printing and Minting (NSPM) Plc. also called MINT has warned Nigerians to stop experimenting with the redesigned N1000, N500, and N200 banknotes. MINT is responsible for producing the naira, Nigeria’s currency.

In a statement on Friday, NSPM’s managing director, Ahmed Halilu said the company’s attention has been drawn to various clips, skits, concerns, and comments on diverse platforms regarding the quality of the redesigned notes.

The West African Pilot News reports that there has been a challenge on social media by Nigerians to ascertain the quality of the new notes after a Twitter user claimed that her sister forgot the new N500 banknote in her pocket and washed the cloth only for the colours to fade.

Halilu, who said best international practices were deployed in the production of the new naira notes, urged Nigerians to stop such acts.

“The naira is our legal tender and national symbol. We, therefore, urge Nigerians and other users of the naira banknotes not to subject our banknotes to experiment in order to prove a point,” he said.

Halilu explained that the new banknotes were of the same substrates as the existing ones and passed through the same printing processes and finishing procedures.

He said the redesigned banknotes tend to leave ink when it comes in contact with water and when rubbed on plain white surfaces because of the heavy deposit of ink used in production.

“It is, therefore, basically the same as the other notes in circulation. It is, however, important to note that new banknotes are generally light when issued, then become heavier in circulation on getting in contact with dirt and moisture,” Halilu said.

“In addition, the second stage of currency printing (intaglio) requires a heavy deposit of special inks with fairly large particles to give a tactile feeling of the portraits as well as other raised prints by way of design. One of the properties of intaglio inks is non-solubility in water and ease of transfer (light stain) on plain white materials owing to the size of the particles.

“This is generally a security feature of all banknotes that easily differentiates them from forged or counterfeited notes.”

By Ezinwanne Onwuka (Senior Reporter)
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