We Have Capacity To Print New Notes- CBN
The Central Bank of Nigeria has said it has the capacity to print the new naira notes.
The Director of Corporate Communications, CBN, in a statement dated Friday, obtained Saturday, said such reports that may have been credited to Emefiele as well was misquoted.
He said Emefiele informed the council of state that the Nigerian Security Printing and Minting Company Plc was working to print all naira denominations to accommodate Nigerians’ transaction needs.
“The attention of the CBN has been drawn to a misleading report misquoting the Governor, 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,” the statement partly read.
“We wish to state categorically that at no time did the CBN Governor disclose this during his presentation to the National Council of State at its meeting on Friday, February 10, 2023,” the statement said.
“For the avoidance of doubt, the CBN remains committed to performing its monetary policy functions, as stipulated in the CBN Act, 2007, as amended. We also wish to restate that the NSPMC has the capacity and enough materials to produce the required indent of the naira,” he added.
