CBN Excludes Mint Company From Printing Cheques

The Central Bank of Nigeria has approved four local firms to print cheques in the country, according to a new circular.

The circular, which was signed by the Director of the Banking Services Department, Sam Okojere, showed that the firms include 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 said, “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 acrredication licence are as follows.”

The circular also showed 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 was stated that all accredited printers and personalisers had been duly notified and certificates issued.

Two firms, which were accredited and approved in 2014, were excluded from the current list.

The firms are Nigeria Security Printing and Minting Company Plc and Euphoria Group Limited.

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.