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Nigerian govt explains ink stains from new naira notes



The Nigerian Security Printing and Minting Plc has offered explanations after Nigerians expressed worry about the quality of the new naira notes.

Many Nigerians have raised concerns that the new notes are not durable and wash off when they come in contact with water or any liquid.

But in a statement on Friday, signed by its Managing Director, Ahmed Halilu, the company said that it was important to enlighten Nigerians on some of the features of the new naira notes.

According to the statement, “the attention of the printing company has been drawn to some video clips, skits, concerns and comments made about the quality of the redesigned notes on many platforms”.

The company stated that Nigeria has a zero-importation policy concerning its currency and had developed local capacity and conserved forex within the period.

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Per the statement from the printing firm, the new notes are of the same substrates and went through the same printing processes and finishing procedures.

The company said: “It is, therefore, basically the same as the other notes in circulation. It also leaves traces of intaglio inks when rubbed on plain white surfaces.

It is, however, important to note that new banknotes are generally light when issued, then become heavier in circulation on getting in contact with dirt and moisture.

“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 as well as other raised prints by way of design.”

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