Why New Naira Notes Are Fading - MINT
The Nigerian Security Printing and Minting (NSPM), also known as The MINT, has released a statement addressing concerns about the new naira notes leaving ink on plain white surfaces.
The company responsible for producing Nigeria's currency emphasized that the notes were produced using best international practices.
In the statement, NSPM Managing Director Ahmed Halilu acknowledged the various clips, skits, concerns, and comments about the quality of the redesigned notes circulating on various platforms.
It is, however, essential to note that new banknotes are generally light when issued, then become heavier in circulation on getting in contact with dirt and moisture,” Halilu stated.
“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 and other raised prints by 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 counterfeited notes.”
The Central Bank of Nigeria says the new Naira notes have been produced using the best international practices. The bank has emphasized the importance of maintaining high standards for the country's currency as a legal tender and national symbol.
The apex bank has urged the public to handle the naira responsibly and to refrain from subjecting it to any experiments or activities that could damage it. The bank has stated its commitment to continuing to meet international standards for the production of the naira.©Standard Gazette, 2021. Unauthorized use and/or duplication of this material without express and written permission from this site’s publisher is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Standard Gazette with appropriate and specific direction to the original content.