Nigeria’s Digital N100 Banknote Expected In Circulation, December 19


20141115-141521.jpg20141115-141556.jpgThe Central Bank of Nigeria (CBN) has produced the first digital N100 paper note, which will be officially issued into circulation on December 19.

The new N100, Commemorative Centenary banknote which also has features for the visually impaired was official unveiling by President Jonathan at the Presidential Villa, shortly after it was introduced by the CBN governor, Godwin Emefiele at the Federal Executive Council meeting.

Commenting on the new note’s features, Emefiele said it was designed to enhance security in order to prevent counterfeiting.

“We have produced a banknote which is the first of its kind, but most importantly it has been designed and produced with most advanced technologies in the world.”

The CBN governor explained what parameters were considered in the process of the banknote development.

“Durability, to make it tolerant in tropics and in doing that we introduced a two sided interglow barriers, both at the front and the back. We also made the note attractive for public acceptance. Emphasis was also placed on our rich cultural heritage. The note has a transformational character.”

At the back side there is a feature called Quick Response Code (QRC), which highlights and sources all the information about the centenary and which makes the banknote “the first digital banknote in the world”.

President Goodluck Jonathan thanked Emefiele and commended the idea of the CBN to produce the notes which would serve as a reminder of Nigeria’s centenary celebration.

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President Goodluck Jonathan (right) and CBN governor, Godwin Emefiele displays the new N100, Commemorative Centenary banknote

 

 

 

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