AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
A ten-second check uses two CBN features you can test without equipment: rub the portrait to feel the raised, embossed print, then tilt the note to the light to see the security thread turn continuous with 'CBN' lettering and, on ₦100 to ₦1,000 notes, the watermark inside the paper. If a note fails, set it aside without returning it to circulation and take it to your bank or the police.
At a counter, you do not have time to study notes. You have time for a habit. The aim of this routine is not to make you a currency expert but to catch the obvious fakes, which are most of them, without slowing the queue. It uses features the Central Bank of Nigeria lists for naira notes. For a fuller explanation of each feature, see the CBN security features in detail.
The ten-second routine
- Feel (2 seconds). As you take the note, run your thumb across the portrait and the large value figure. The CBN says the portrait, lettering and numerals are embossed and the print is raised. A genuine note has texture; a printed fake feels flat or slippery.
- Tilt to light (3 seconds). Hold the note towards the window or bulb. The security thread, which looks like a broken line on the surface, should become one continuous strip with small 'CBN' lettering.
- Watermark (2 seconds). On ₦1,000, ₦500, ₦200 and ₦100 notes, look for the electrotype watermark in the paper, visible against light.
- Patch (1 second, ₦200 and ₦500). Look for the gold or silver patch with an embossed outline of the coat of arms.
- Compare (2 seconds, only if unsure). Hold the doubtful note beside one you know is genuine from your own float. Differences in feel and colour jump out side by side.
Make it physical
Set up the counter so the routine is natural. Keep a bright bulb or a window behind where customers stand, so that tilting a note is one movement. A small UV lamp is cheap and lets you add the CBN's UV-ink feature: under UV, parts of a genuine note light up in bright, changed colours. Keep one known-genuine note of each value taped inside the till lid for comparison.
When to be extra careful
- Rush periods. Fakes are passed when you are busiest. If anything, slow down slightly at peak times.
- Large notes for small purchases. A ₦1,000 note for a ₦100 item, with change requested in smaller notes, turns a fake into real money.
- Bundles handed over folded. Unfold and fan every bundle; a fake is easiest to hide in the middle.
- Evening and poor light. The light test fails in the dark, so have a torch or lamp ready.
- Change from others. If you take float from a neighbour or agent, check it too. POS agents may pay out a lot of cash: CBN's 2025 guidelines allow an agent up to ₦1.2 million in daily cash-out (Techpoint Africa), so a fake in an agent's float can spread quickly.
Handling a suspected fake lawfully
The way you handle a suspected fake matters, both for your safety and to keep yourself clear of any suggestion that you are passing it on.
- Do not hand it back to circulation. Do not use it for change or spend it. Returning it to the customer may also put it back into use, so set it aside.
- Stay calm with the customer. Politely say you cannot accept the note and ask for another form of payment. Do not accuse or detain anyone; if a customer becomes aggressive, put your safety first.
- Write down the details: date, time, the value, what was bought, and a description of the customer if they paid deliberately.
- Take it to your bank and ask how it handles suspected counterfeit notes. The CBN's security features page does not set out a surrender procedure, so follow your bank's or the police's instructions rather than rumours.
- Report deliberate passing to the police, especially if the same person or several fakes appear.
This section is general information, not legal advice. If you are unsure, ask your bank or the police before acting.
Worked example: one week's notes
Example: a pharmacy counter takes about 300 notes a day. The owner starts the feel test on every note and the light test on ₦500 and ₦1,000 notes. In the first week, two fake ₦1,000 notes are caught at the counter. Each would have been ₦1,000 lost, plus the goods and any change handed over; on a ₦200 purchase paid with a fake ₦1,000, the loss is the ₦200 item and ₦800 change, ₦1,000 in total. Catching both saved ₦2,000 that week, at a cost of a few seconds a sale.
Cut the number of notes you handle
Every note you do not take is one you do not need to check. Offering transfer as the default payment cuts cash volume, but brings its own risk in fake alerts; see transfer, POS or cash at a stall and how to spot a fake credit alert.
Where Pryme fits
A Pryme Business Account lets customers pay by transfer, and bank-transfer checkout is free, so fewer notes cross your counter.
Questions people ask
How can I quickly check if a naira note is fake?
Feel the portrait for raised, embossed print, then hold the note to light: the thread should turn continuous with 'CBN' lettering, and ₦100 to ₦1,000 notes should show a watermark.
What do I do if a customer gives me a fake note?
Politely refuse it and ask for another payment. Do not use it as change. Take it to your bank or the police and note the details.
Is a UV lamp worth it for a shop?
It adds a check: the CBN says genuine notes have UV-reactive ink that lights up in bright, changed colours under UV.
Should I give a fake note back to the customer?
Avoid returning it to circulation. Set it aside and ask your bank or the police how to hand it in.
Sources
- CBN: Security Features of naira notes · accessed Oct 2026
- CBN releases new agent banking guidelines (Techpoint Africa, 7 Oct 2025) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.