The United States Federal Reserve, equivalent of the Central Bank of Nigeria, Tuesday began what it classified as supplying financial institutions with a redesigned $100 note that has Third Dimension (3D) security feature among others, ITRealms reports.
This $100
note incorporates new security features to deter counterfeiters and help
businesses and consumers tell whether a note is genuine,
A press
statement made available to ITRealms,
showed that distance, demand and policies of individual financial institutions
would influence how quickly the redesigned notes reach businesses and consumers
globally.
The Federal
Reserve Board Governor, Jerome H. Powell says that the new design incorporates
security features that make it easier to authenticate, but harder to replicate.
“As the new
note transitions into daily transactions, the user-friendly security features
will allow the public to more easily verify its authenticity,” he said.
Also, Jerome
was quoted as saying that the Federal Reserve, U.S. Department of the Treasury,
U.S. Bureau of Engraving and Printing, and the U.S. Secret Service partnered to
redesign Federal Reserve notes to stay ahead of counterfeiting threats.
According to
him, the redesigned $100 note includes two new security features: a blue 3-D
security ribbon with images of bells and 100s, and a colour-changing bell in an
inkwell. The new features, and additional features retained from the previous
design, such as a watermark, offer the public a simple way to visually authenticate
the redesigned $100 note.
ITRealms recalls that consumers
worldwide are advised that it is not necessary to trade in older-design $100
notes for new ones.
“It is U.S.
government policy that all designs of U.S. currency remain legal tender, regardless
of when they were issued,” part of the statement read.
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