New naira note going into circulation on Friday

The Central Bank of Nigeria said that the commemorative N100 banknote
unveiled recently by the President, Dr. Goodluck Jonathan, is going into circulation from Friday. This is contained in a statement signed
by Ibrahim Mu’azu, Head, Corporate Communications, on Friday in Abuja. It directed all branches of the bank to
commence issuance of the currency in
their respective locations. “The commemorative note will
circulate alongside the existing N100
note. The note, which is embedded with
features to assist the visually impaired
recognise genuine notes, also has
other security features easily
identifiable through look, feel and tilt
of the currency note,,” it said. It recalled that the CBN Governor, Godwin Emefiele, at the unveiling of the new banknote, explained that it
was designed with enhanced security
to offer robust resistance against
counterfeiting. It added that the authentication
features of the note included window
micro-optics, showing the national
flag and numeral 100 indicating the
value of the denomination and the
attainment of the centenary period. “The new design retains the portrait of Chief Obafemi Awolowo both in the ink, that is the inter-glow level, as a
portrait and also in a paper as a
shadow image. “In addition, there is a spark feature of
a rolling manila bar, which was the
instrument of transaction during the
slave trade era. At the back side of the currency is the
introduced Quick Response Code,
(QRC), a digital communication feature
that highlighted and sourced all the
information about the centenary,” it
said . According to the statement, the QRC
application, the bar code on the
banknote, can be scanned by users to
read a brief history of Nigeria. It recalled that the apex bank, in
2010, issued commemorative N50
polymer note to mark Nigeria’s 50th
Independence Anniversary
celebration.

Sent by Rex
Dept. Educational Management