The Central Bank of Nigeria (CBN) has debunked claims that the Nigerian Security Printing and Minting Company Plc (NSPMC) does not have enough materials to print the new Naira notes.
Spokesman for the CBN, Osita Nwanisiobi, in a statement on Saturday, said “the NSPMC has the capacity and enough materials to produce the required indent of the Naira.
He said CBN Governor Godwin Emefiele had assured the National Council of State that the NSPMC was capable of printing the nation’s currency needs.
According to Nwanisiobi, “the NSPMC was working on printing all denominations of the Naira to meet the transaction needs of Nigerians”.
Reacting to the report, Nwanisiobi said at no time did the CBN Governor disclose to members of the National Council of State that the NSPMC had shortage of printing materials.
The CBN said it was “alarmed at the extent to which vested interests are attempting to manipulate facts and pitch the public against the Bank”.
The CBN, Nwanisiobi noted, “remains committed to performing its monetary policy functions, as stipulated in the CBN Act, 2007, as amended”.
He said the CBN was working “assiduously to increase the circulation of the new notes in the country”.
The CBN spokesman also debunked a voice note circulating on social media that the bank was planning to shut down some banks in a particular geopolitical region of the country.
According to Nwanisiobi, “there is no such plan and the claims are illogical and do not comply with the workings of the Nigerian banking system”.
“The public is therefore advised to ignore such recordings as they do not represent the policy thrust of the CBN and are only the desperate attempts of persons bent on inciting the public against the Bank” Nwanisiobi said.
The NSPMC has also reacted to the report.
Its Managing Director/Chief Executive Officer, Ahmed A. Halilu in a statement said “De-la-Rue of United Kingdom does not produce nor supply paper substrate within the currency industry.
Halilu assured Nigerians that “the NSPM has made adequate arrangement to continuously produce redesigned banknotes as well as other denominations in line with the CBN indent for the year 2023”.
