Currency notes of Ghana, Ivory
Coast and other countries would
soon be printed by the Nigerian
Security Printing and Minting
(NSPM) Plc, its managing director,
Joseph Ugbo, revealed yesterday.
He told the House of
Representatives committee on
banking and currency at the 2015
budget defence that apart from the
notes, other security documents of
the countries would also be printed
by the NSPM.
Ugbo said an installation of newly
procured state-of-the-art machines
for security documents has since
commenced.
He said the installations are aimed
at perfecting final preparation in
the build up to the production of the
banknotes and other security
documents required by the Central
Bank of Nigeria (CBN).
The managing director said the
Lagos and Abuja facilities of the
company can produce 1.2 billion
and 1.4 billion bank notes while the
new facility could print 1.2 billion
notes.
Chairman of the committee Rep
Jones Onyeriri however queried the
N200 million earmarked as exit
incentives as against the N150
million in 2014 as well as N50
million for the year-end gift by the
company.
