New Fake N1000 Notes Are Circulating

Royal Diary
Royal Diary
1 Min Read

Fake replicas of the new N1000 naira notes have been leaked into the economy just days after the Central Bank of Nigeria, CBN, introduced the redesigned naira notes in the denominations of N200, N500, and N1,000.

This was shown in a video by a mobile money and bank representative who claimed that a customer used a counterfeit N1,000 note to do a bank transaction at his wife’s Point of Sale (PoS).

He continued in the video to demonstrate the distinction between the genuine and modified N1,000 note.

He claims that the original note includes a scratch-proof gold seal at the bottom of the right side that cannot be removed.

The new one has a gold seal at the bottom of the right side of the note near the signatures, but the old one does not.

Recall that on December 15,2022, the CBN unveiled the newly designed naira notes.

Banks continue to process transactions using the previous denominations, nevertheless. They griped that there weren’t enough fresh notes to spread across the economy. Therefore, it must be released in pieces together with the previous notes.

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