Breaking news on new naira note

Here are some recent updates on the new naira note:

Breaking News: CBN Unveils New Naira Note

The Central Bank of Nigeria (CBN) has unveiled a new naira note, the N1,000 denomination, which is expected to be released into circulation soon.

Design and Features

The new N1,000 note features a portrait of the late Chief Obafemi Awolowo, a Nigerian statesman and politician, on the obverse (front) side. The reverse (back) side of the note features a design that represents the country's agricultural sector, with images of crops, livestock, and a farmer.

Security Features

The new note has several advanced security features to prevent counterfeiting, including:

  1. Watermark: A transparent image of Chief Awolowo that can be seen when the note is held against light.
  2. Hologram: A 3D image of the Nigerian coat of arms that shifts when the note is tilted.
  3. Microprinting: Tiny text that reads "CBN" and "Nigeria" in several languages.
  4. Raised Printing: Intaglio printing that gives the note a tactile feel.
  5. Color-Shifting Ink: The image of Chief Awolowo changes color when the note is tilted.

Release Date

The CBN has announced that the new N1,000 note will be released into circulation in the coming weeks. The exact date of release has not been disclosed, but it is expected to be soon.

Impact on Economy

The introduction of the new note is expected to have a positive impact on the economy, as it will help to reduce the circulation of counterfeit notes and increase confidence in the banking system. It will also provide an opportunity for the CBN to update its currency design and incorporate new security features to prevent counterfeiting.

Public Reaction

The public has generally welcomed the introduction of the new note, with many expressing excitement and relief that the CBN is taking steps to improve the security of the currency. However, some have raised concerns about the potential impact on the economy and the need for more education on the new security features.

Stay tuned for further updates on this developing story!