Home Business Banking & Finance New Naira notes: NSPM reveals new features

New Naira notes: NSPM reveals new features

3 min read
0
0
64
access bank

The Nigerian Security Printing and Minting Plc (NSPM) have highlighted some features of the new naira notes in order to sensitize Nigerians who have expressed concern about the quality of the notes.

In a statement on Friday signed by the Managing Director of NSPM, Ahmed Halilu, the company stressed the need to enlighten Nigerians on the features of the new Naira.

The statement reads in part: “The attention of the Nigerian Security Printing and Minting Plc has been drawn to various clips, skits, concerns, and comments on various platforms regarding the quality of the redesigned banknotes that were recently unveiled and issued by the Central Bank of Nigeria.

“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 currency and, most importantly, the misconception about the quality of the new Naira notes.

“The NSPM Plc has been meeting the currency needs of Nigeria with the support of the Central Bank of Nigeria since 2014. Indeed, Nigeria has achieved zero importation of currency, developed local capacity, and, to an extent, conserved foreign exchange within this period.

“We want to inform all Nigerians that the new Naira notes are of the same substrates and passed through the same printing processes and finishing procedures.

“It is, therefore, basically the same as the other 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 generally light when issued, then become heavier in circulation on getting in contact with dirt and moisture.

“In addition, the second stage of currency printing (Intaglio) requires a heavy deposit of special inks with fairly large particles to give a tactile feeling of the portraits as well as other raised prints by way of design”.

Load More Related Articles
Load More By Breezynews
Load More In Banking & Finance

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Lagos starts enrolment of vulnerable residents for affordable health scheme

The Lagos State Health Management Agency (LASHMA) will commence the enrolment for  Ilera E…