The Central Bank of Nigeria {CBN} yesterday said in furtherance of it's monetary policy towards efficiency and regulation in the Nigerian monetary system, it has now stopped foreign companies from printing cheques for Nigerian banks. This was made known by not including any foreign firm in the circular issued to concerned parties. The bank listed accredited and certified cheque printers for 2015/201 as;
Superflux International Ltd, Tripple Gee and Company Plc, Nigeria Security Printing and Minting Plc, Euphoria Group and Popi Printing Company Ltd. This was contained in a circular to deposit money banks, cheque printers and other stakeholders as signed by the bank's Director of Banking and Payment Systems Department, Dipo Fatokun.
This was to ensure an efficient payment and settlement system. In his words;
“In furtherance of its mandate to ensure efficient payment and settlement system, the Central Bank of Nigeria, in collaboration with the MICR technical implementation committee, conducted the accreditation and reaccreditation exercise, in line with the NICPAS qualification criteria and found the (accredited) cheque printers as qualified to print cheques for the Nigerian market. “All the accredited printers had been duly notified and certificates issued.Please note that foreign based printers were neither accredited nor re-accredited, in line with the bank’s policy on the domestication of cheque printing in Nigeria.” the circulat red in parts.
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