Saturday, July 19, 2025

NSPMC has capacity to meet Naira demand, says CBN

The Central Bank of Nigeria, the CBN, has denied allegations that the shortage of currency in the new Naira is due to a shortage of printing materials.

In the last two days, some news agencies have been reporting on the shortage of currency printing materials at the Nigeria Security Printing and Minting Company (NSPMC).

Reports have it that the CBN governor, Mr. Godwin Emefiele, as attributing the challenge in the distribution of the new notes to shortage of materials.

READ MORE: Akwa Ibom CAN Calls For Active, Peaceful Participation in 2023 Election

According to a statement by Osita Nwanisobi, CBN’s Director, Corporate Communications Department, at no time did Emefiele make such disclosure during his presentation to the National Council of States during its meeting on Friday.

“What the CBN governor told the meeting was that the NSPMC was working on printing denominations of the Naira to meet the transaction needs of Nigerians,” Nwanisobi said.

He expressed CBN’s appreciation to various stakeholders for the concern about their distribution of the Naira.

He, however, said that the apex bank was alarmed at the extent at which vested interests were attempting to manipulate facts and pit.

 

 

 

 

 

 

Hot this week

African Future Leadership Magazine Appoints Mrs. Joy Ehiagwina Patrick to Governing Board

The management of African Future Leadership Magazine Limited under...

African Future Leadership Magazine Appoints Mrs. Joy Ehiagwina Patrick to Governing Board

The management of African Future Leadership Magazine Limited under...

Uganda 2026: Museveni Seeks to Extend 40-Year Rule Amid Bobi Wine Challenge

Ugandan President Yoweri Museveni, 80, has announced his candidacy...

Ambassador Mark Idiahi Launches Initiative to Shape Africa’s Future Leaders

Ambassador Mark Idiahi has launched the "Face of African...

WAG Urges Women To Strategise For Greater Representation In Governance

Founder Women Aligned for Growth (WAG), Dr. Ifeyinwa Nwakwesi...

Related Articles

Popular Categories