CBN Debunks Claims Of Scarcity Of Printing Supplies, Plans To Shut Down Banks

CBN Debunks Claims Of Scarcity Of Printing Supplies, Plans To Shut Down Banks

The Central Financial institution of Nigeria has debunked claims concerning the incapacity of the Nigerian Safety Printing and Minting PLC.

The apex financial institution additionally denied claims that it plans to close down business banks in a geo-political zone.

This was disclosed in an announcement signed on Friday by CBN’s Director of Company Communications, Mr Osita Nwanisobi.

CBN stated NSPM just isn’t experiencing inadequate printing supplies, as alleged by a report making the rounds within the media.

It clarified that the CBN governor, Godwin Emefiele, informed the Nationwide Council of State in a gathering within the presidential villa on Friday that NSPM was working assiduously on printing all denominations of the banknotes to ease the sufferings of Nigerians.

Additionally, the apex financial institution frowns at vested pursuits trying to pitch the general public towards the Financial institution.

It assured the general public that the Financial institution would proceed to execute its constitutional mandate by making certain the graceful nationwide circulation of the forex.

“For the information, what Mr Emefiele informed the assembly was that the NSPMC was engaged on printing all denominations of the Naira to satisfy the transaction wants of Nigerians.

“Whereas the CBN appreciates the issues proven by all stakeholders concerning the distribution of the Naira, we’re alarmed on the extent to which vested pursuits try to control information and pitch the general public towards the Financial institution”.

“We want to state unequivocally that there isn’t any such plan and that the claims are illogical and don’t adjust to the workings of the Nigerian banking system.

The general public is due to this fact suggested to disregard such recordings as they don’t signify the coverage thrust of the CBN and are solely the determined makes an attempt of individuals bent on inciting the general public towards the financial institution”.