Nigerian Security Printing and Minting Company (NSPMC) Plc has debunked the recent allegation on its capacity to continue the production of redesigned banknotes owning to the problem of supply chain, insisting, they are capable.
The company also said that De- La -Rue of United Kingdom does not produce nor supply paper substrate within the currency industry.
The Managing Director /Chief Executive Officer of NSPMC, Ahmed Halilu in a statement said the company has the capacity to produce and redesign the Nigerian new notes and other denomination notes.
Specifically, the statement said ” the attention of NSPMC Plc has been drown to some publications allegedly credited to the Central Bank of Nigeria about the capacity of the NSPM to continue the production of the redesigned banknotes owing to the supply chain constraints.
“While the CBN has debunked the false claim we wish to add that contrary to the mischievous claim, De- La -Rue of United Kingdom does not produce nor supply paper substrate within the currency industry”.
He also assured Nigerians that NSPM has made adequate arrangement to continuously produce redesigned banking notes as well as other denominations in line with the CBN indent for the year 2023.
Meanwhile the CBN over the weekend, said that the NSPMC has the capacity and enough materials to produce the required indent of the Naira.
The apex bank also said it is not making plans to close down some deposit money banks in the country.
The CBN statement signed by Director, Corporate Communications, department, CBN, Osita Nwanisobi, said, “The attention of the CBN has been drawn to a misleading report misquoting the Governor, Mr. Godwin Emefiele, as attributing the current challenge in the distribution of the newly redesigned naira banknotes to a shortage of printing materials at the Nigerian Security Printing and Minting Company Plc.