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CBN directs banks to commence issuance of Centenary N100 note

By Babajide Komolafe

Central Bank of Nigeria (CBN) Thursday said that the commemorative centenary notes will be circulated from Friday across the country.

In a statement issued Thursday, the CBN said, “The commemorative N100 banknote unveiled recently by the President, Dr. Goodluck Ebele Jonathan, goes into circulation on Friday, December 19, 2014.  Accordingly, all branches of the Bank have been directed to commence issuance of the currency in their respective locations.

The commemorative note will circulate alongside the existing N 100 note.

The 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.  It will be recalled that the Bank, in 2010, issued commemorative N50 polymer note to mark Nigeria’s 50th Independence Anniversary celebration.”

 


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