Redesigned Naira Is Of international standard-NSPM

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The Nigerian Security Printing and Minting (NSPM)Plc has assured Nigerians that the naira shall meet international standards with best practices deployed in the production of the national symbol.

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This was contained in a statement on Friday signed by NSPM Managing Director, Ahmed Halilu.

The NSPM was reacting to the clips, skits, concerns, and comments on various platforms regarding the quality of the redesigned banknotes that were recently unveiled and issued by the Central Bank of Nigeria (CBN).

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Halilu said the NSPM Plc has been meeting the currency needs of Nigeria with
the support of the CBN since 2014.

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The statement read in part, “Indeed, Nigeria has achieved zero importation of currency, developing local capacity, and, to an extent, conserved foreign exchange
within this period.

” We want to inform all Nigerians that the new Naira notes are of the same substrates and passed through the same printing processes and finishing procedures. It is, therefore, basically the same as the other notes in circulation. It also leaves traces of intaglio inks when rubbed on plain white surfaces.

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‘”As the nation’s foremost security printing and minting company saddled with the responsibility of producing the country’s currency (Naira), we find it expedient to address the salient issues and further enlighten Nigerians on the features of the Naira and, most importantly, the misconception about the quality of the new Naira notes.

” It is, however, important to note that new banknotes are generally  light when issued, then become heavier in circulation on getting in contact with dirt and moisture.”