Fake New ₦‎1000 Notes In Circulation, Few Days After Release

Fake replicas of the new N1000 naira notes have been leaked into the economy just a few days after the Central Bank of Nigeria, CBN, published 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 to do a bank transaction at his wife’s Point of Sale (PoS).

He went ahead in the video to show the difference between the fake and original redesigned N1,000 note.

According to him, the original note has a gold seal at the bottom of the right hand side of the note and the seal cannot be erased when scratched.

While the old one doesn’t have a gold seal at the bottom of the right hand side of the note close to the signatures.

Recall that the CBN released the redesigned naira notes on the 15th of December, 2022.

However, the banks are still making payments with the old denominations.

They complained that the quantity of the new notes cannot go round the economy. Hence the need to release it in bit alongside the old notes.