By Our Reporter
The Nigerian Security Printing and Minting (NSPM)Plc has reacted to various clips, skits, concerns and comments on various platforms regarding the quality of the redesigned bank notes that were recently unveiled and issued by the Central Bank of Nigeria(CBN).”
In a statement made available to NATIONAL WAVES and signed by the managing drector of the Nigerian Security Printing and Minting (NSPM)Plc, AHMED A HALIEU, said the NSPM Plc had lived up to uts responsibilities and will continue to meet the currency needs of Nigeria with the support of the Central Bank of Nigeria.
The statement reads”The attention of the Nigerian Security Printing and Minting (NSPM)Plc has been drawn to various clips, skits, concerns and commentson various platform sregarding the qualityof the redesigned bank notes that were recently unveiled and issued by the Central Bank of Nigeria(CBN).”
“As the nation’s foremost security printing and minting company saddled with the responsibility of producing the country’s currency(Naira), we find it expedient to address the salient issues and further enlighten Nigerians on the features of the Naira and, most importantly, the misconception about the quality of the new Naira notes”
“The NSPM Plc has been meeting the currency needs of Nigeria withthe support of the Central Bank of Nigeria since 2014.Indeed, Nigeria has achieved zeroimportationofcurrency, developed local capacity and, to an extent, conserved foreign exchange with in this period”
“We want to inform all Nigerians that the new Naira notes are of the same substrates and passed through the same printing processesand finishing procedures.It is, therefore, basically the same as theother notes in circulation.It also leaves traces of intaglio inks when rubbed on plain white Surfaces.”
“It is, however, important to note that new banknotes are generallylight when issued, then become heavier in circulation on getting in contact with dirt and moisture.
In addition, the second stage of currency printing (lntaglio) requiresa heavy deposit of special inks with fairly large particles to give atactile feeling of the portraits as well as other raised prints by way ofdesign.One of the properties of intaglio inks is non-solubility inwater and ease of transfer (light stain) on plain white materialsowing to the size of the particles.This is generally a security featureof all banknotes that easily differentiates them from forged orcounterfeitednotes.”
“The Naira is our legal tender and national symbol. We, therefore,urge Nigerians and other users of the Naira banknotes not tosubjectourbanknotestoexperimentsin ordertoproveapoint”
“Finally, we assure all Nigerians that best international practices havebeen deployed in the production of our national symbol, the(Naira), and we shall continue to ensure that it meets internationalstandards”
