The Nigerian Security Printing and Minting (NSPM) Plc, the company responsible for producing Nigeria’s currency, has explained why the new Naira notes leave ink when rubbed on plain white.
The company in a statement signed by the Managing Director, Ahmed Halilu highlighted this when addressing concerns by Nigerians on the quality of the redesigned notes.
Ahmed said: “The attention of the Nigerian Security Printing and Minting Plc has been drawn to various clips, skits, concerns and comments on various platforms regarding the quality of the redesigned banknotes that were recently unveiled and issued by the Central Bank of Nigeria.
He said the new notes are basically the same as the other notes in circulation. “It also leaves traces of intaglio inks when rubbed on plain white surfaces. It is, however, important to note that new banknotes are generally light when issued, then become heavier in circulation on getting in contact with dirt and moisture.”
NSPM stated that it has been meeting the currency needs of Nigeria with the support of the Central Bank of Nigeria since 2014. Indeed, it stated that Nigeria has achieved zero importation of currency, developed local capacity and, to an extent, conserved foreign exchange within this period.
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