Omowumi Semudara
The Central Bank of Nigeria has exempted Nigeria Security Printing and Minting Company Plc and Euphoria Group Limited from printing cheques.
While granting approval to four local firms to print cheques in the country.
The Nigeria Security Printing and Minting Company Plc is the company responsible for printing Nigeria’s currency, including the recently printed new N1000, N500 and N200 notes.
The total number of cheques printers has dropped from 14 in 2010 to four currently, which is a decrease of 71.43 per cent.
The exemption was contained in a new circular from CBN which was signed by the Director of the Banking Services Department, Sam Okojere, the circular included the names of the local firms which are; Superflux International Limited, Tripple Gee and Company, Yaliam Press Limited and Marvelous Mike Press.
These firms were accredited and approved as printers and personalisers of cheques.
The CBN circular read that “In furtherance of its mandate to ensure an efficient Payment and Settlement System, the Central Bank of Nigeria, in collaboration with the MICR Technical Implementation Committee, conducted the re-accreditation of Cheques Printers and Cheque Personalisers in line with the NICPAS qualification criteria. As of May 4, 2023, the Cheque Printers and Personalisers with valid accreditation licence are as follows.”
Furthermore, the circular revealed that seven banks were approved as personalisers of cheques, and they include Zenith Bank Plc, Ecobank Plc, Stanbic IBTC Bank Plc, First Bank Ltd, Keystone Bank Ltd, Wema Bank Plc and Providus Bank Ltd.
It also stated that all accredited printers and personalisers had been duly notified and certificates issued.
