The newly introduced N1,000 notes are now being counterfeited.
Banks issued the redesigned notes on December 15, 2022, in accordance with the Central Bank of Nigeria’s directive.
However, days after the release, the husband of an unnamed Point of Sale operator displayed fake N1,000 notes to the public.
He claimed the notes were given to his wife by a customer.
He then demonstrated to the world the difference between genuine and counterfeit N1,000 notes.
Recall that the Central Bank Of Nigeria (CBN) redesigned the N200, N500 and N1,000 notes respectively.
CBN Governor, Godwin Emefiele, made the disclosure at a special press briefing in Abuja.
Emefiele announced that the introduction of the new naira notes would take effect from December 15, 2022.
He further disclosed that over 80 per cent of the total cash in circulation was outside the banking system.