Some counterfeits of the new N1000 naira notes have entered circulation just days after the CBN issued the redesigned naira notes in the denominations of N200, N500, and N1,000.

A mobile money and banking agent revealed this in a video, claiming that a client had used the counterfeit version of the new N1,000 in a PoS transaction at his wife’s store.

In the video, he then proceeds to demonstrate the dissimilarities between the counterfeit and genuine redesigned N1,000 bill.

The original note, he claims, contains a gold seal at the bottom right that cannot be removed by scratching.

The new one has a gold seal near the signatures on the bottom right, but the previous one doesn’t.

You may remember that on December 15, 2022, the CBN introduced the new naira banknotes.

While the government has phased out the use of the old currency denominations, banks continue to use them. They complained that the amount of new currency cannot support the economy. Because of this, it must be released gradually, with the previous notes.