The Nigerian Security Printing and Minting (NSPM) has dismissed recent reports suggesting the company is struggling to produce redesigned banknotes due to supply chain constraints.
According to the NSPM Managing Director, Ahmed A. Halilu, in a statement on Saturday reassured Nigerians that the company is fully equipped to continue the production of banknotes and other denominations of the naira currency.
The statement comes after recent reports claimed that the Central Bank Governor had raised concerns over NSPM’s ability to produce the redesigned banknotes, a claim that has since been debunked by the CBN.
“The attention of the Nigerian Security Printing and Minting (NSPM) Plc. has been drawn to some publications allegedly credited to the Central Bank Governor about the capacity of NSPM to continue the production of redesigned banknotes owing to supply chain constraints,” the statement reads.
“While the CBN has debunked the false claim, we also find it expedient 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.
“We wish to further assure Nigerians that NSPM has made adequate arrangements to continuously produce redesigned banknotes as well as other denominations in line with the CBN indent for the year 2023.”
