The Nigerian Security Printing and Minting (NSPM) on Friday assured Nigerians that the newly redesigned Naira notes are of the required standard and quality.
The Managing Director of NSPM, Ahmed Halilu, gave the reassurance in a statement on Friday.
Halilu was reacting to concerns raised by some Nigerians, particularly on social media, about the quality of the new currency.
According to him, the company is concerned about widespread misconception about the quality of the new notes.
He said that the NSPM had the capacity of minting the currency notes within the required standard.
“The attention of the NSPM has been drawn to various clips, skits, concerns and comments on various platforms regarding the quality of the redesigned banknotes.
“As the nation’s foremost security printing and minting company, saddled with responsibility of producing the Naira, we find it expedient to address the misconception about the quality of new Naira notes.
“The NSPM Plc has been meeting the currency needs of Nigeria with the support of the Central Bank of Nigeria (CBN) since 2014.
“Indeed, Nigeria has achieved zero importation of currency, developed local capacity and to an extent, conserved foreign exchange within this period, ” he said.
He added that the new Naira notes were of the same “substrate” and passed the same printing processes and finishing procedures.
“It is, therefore, basically the same as the other notes in circulation. It also leaves traces of “intaglio” links 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,” he said.
The Managing Director assured that international best practices were deployed in production of the Naira notes, while urging Nigerians not to subject the notes to unnecessary experimentation.
“The Naira is our legal tender and national symbol. We, therefore, urge Nigerians and other users of the Naira banknotes not to subject them to experiments in order to prove a point.
“Finally, we assure all Nigerians that best international practices have been deployed in the production of the Naira, and we shall continue to ensure that it meets international standards, ” he said.
