“New Naira Notes Releasing Ink When Rubbed Or Deep In Water Shows Authenticity Not Lack Of Quality” – NSPM

The Nigerian Security Printing and Minting Plc (NSPM) has reassured Nigerians that the new Naira notes in circulation are of the same excellent quality as the previous notes, pointing out that the new notes, releasing Intaglio ink when rubbed against plain white surfaces or deeper in water, is a security features of the currency.

The new Naira notes have drawn a lot of criticism, especially for their inks, which easily bleed when the notes are dropped in water or rubbed against white surfaces.

One of the components utilized in the production of the notes is intaglio ink.

The new notes, according to a statement from NSPM signed and issued by its Managing Director/Chief Executive Ahmed A. Halilu, are made of the same materials and went through the same printing and finishing processes as the previous Naira notes.

He claimed that all banknotes normally have ink as a security feature that makes it simple to tell authentic notes from fake or forged ones.

The statement read: “The attention of the Nigerian Security Printing and Minting (NSPM) PIc 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 (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 PIc 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.

“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.”

The statement went on to say that the second step of money printing (Intaglio) involves a heavy deposit of special inks with quite large particles to give a tactile impression of the portraits and other raised prints by means of design.

“One of the properties of intaglio inks is non-solubility in water and ease of transfer (light stain) on plain white materials owing to the size of the particles. This is generally a security feature of all banknotes that easily differentiates them from forged or counterfeit notes,” the statement said.

While stating that the new notes should not be used for experiments, he said; “The Naira is our legal tender and national symbol. We, therefore, urge Nigerians and other users of the Naira banknotes not to subject our banknotes to experiments in order to prove a point. We assure all Nigerians that best international practices have been deployed in the production of our national symbol, the Naira, and we shall continue to ensure that it meets international standards.”