Nigerian Security Printing and Minting (NSPM) Plc revealed that Nigeria has achieved zero importation of currency.
This is the most important coinage and security printing company in the country, expressed concern about the various clips, parodies and comments on various platforms regarding the quality of the redesigned naira banknotes that were recently issued by the Central Bank of Nigeria (CBN).
The company’s Managing Director/CEO Ahmed Halilu, who disclosed this in a statement yesterday, said that NSPM has been meeting Nigeria’s currency needs with the support of CBN between 2014 and now when it has been handling the printing of currency for nigeria
“NSPM Plc has been meeting Nigeria’s foreign exchange needs with the support of the Central Bank of Nigeria since 2014. In fact, Nigeria has achieved zero foreign exchange imports, built local capacity and to some extent conserved foreign exchange. in this period. ” he stated.
The agency, which has the responsibility for producing the country’s currency (Naira), also said it sees fit to address the most prominent issues and further inform Nigerians about the Naira’s characteristics and, more importantly, clear up the misconception. about the quality of the coin. new Naira banknotes.
“We want to inform all Nigerians that the new Naira banknotes are from the same substrates and went through the same printing processes and finishing procedures. It is, therefore, basically the same as the other banknotes in circulation. It also leaves traces of gravure inks when rubbed on smooth white surfaces,” the company said in a statement issued by its
He acknowledged that new banknotes are generally light when issued, then become heavier in circulation upon contact with dirt and moisture.
“In addition, the second stage of coin printing (Intaglio) requires a heavy deposit of special inks with particles large enough to give a tactile feel to the portraits, as well as other relief printing by way of design.
“One of the properties of gravure inks is non-solubility in water and ease of transfer (light smearing) on smooth white materials due to the size of the particles. This is generally a security feature of all notes that easily differentiates them from counterfeit or counterfeit notes,” Halilu said.
NSPM urged Nigerians and other users of the Naira notes not to subject the notes to experiments to prove a point.
“We assure all Nigerians that international best practices have been implemented in the production of our national symbol, the (Naira), and we will continue to ensure that it meets international standards,” he said.