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Sunday, 14 December 2014

New N100 banknote To Be In Circulation December 19

The commemorative N100 banknote unveiled recently by the President Goodluck Jonathan is to be officially issued into circulation by the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Friday, December 19.

The ceremony billed for the Abuja Branch of the CBN will be immediately followed by a simultaneous issuance of the currency across the branches of the bank.

The commemorative note, which is embedded with features to assist the visually impaired recognize genuine notes, also has other security features easily identifiable through look, feel and tilt of the currency note.
It will be recalled that the CBN Governor, at the unveiling of the new banknote, explained that the new note was designed with enhanced security to offer robust resistance against counterfeiting.

Authentication features of the note include window micro-optics, showing the national flag and numeral 100 indicating the value of the denomination and the attainment of the centenary period.

The new design retains the portrait of Chief Obafemi Awolowo both in the ink, that is the interglow level, as a portrait and also in a paper as a shadow image. In addition, there is a spark feature of a rolling manila bar, which was the instrument of transaction during the slave trade era.
At the back side of the currency is the introduced Quick Response Code (QRC) a digital communication feature that highlights and sources all the information about the centenary.

With the QRC application, the barcode on the banknote can be scanned by users to read a brief history of Nigeria. According to the bank, the commemorative note will circulate alongside the existing N100 note.

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