…debunks claim lack of capacity, non-availability of banknotes

Written by Rashidat Olushola Okunlade

The Nigerian Security Printing and Minting (NSPM) Plc. has debunked allegations in some publications credited to Central Bank of Nigeria (CBN)’s Governor, Mr. Godwin Emefiele about the capacity of NSPM to continue the production of redesigned banknotes owing to supply chain constraints.

NSPM stated that while CBN has debunked the false claim, “We also find it expedient to add that contrary to the mischievous claim, De-la-Rue of the United Kingdom does not produce nor supply paper or bank notes substrate within the currency industry.

In a statement signed by the Managing Director/CEO of Nigerian Security Printing and Minting (NSPM) Plc, Ahmed A. Halilu, mni expressed readiness to deliver in alignment with CBN rules as NSPM is tasked with the responsibility to among other things, print all security documents in the country, thereby meeting the general public demands.

NSPM further assure Nigerians that the bank notes printing organisation has made adequate arrangement to continuously produce redesigned bank notes as well as other denominations in line with CBN indent for the year 2023.


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