The Central Bank of Nigeria (CBN) has debunked false claims about the capacity of the Nigerian Security Printing and Minting Company Plc and alleged threats to close down some deposit money banks. The bank was reacting to a misleading report that quoted the CBN Governor, Mr. Godwin Emefiele, as attributing the current challenge in the distribution of newly redesigned naira banknotes to a shortage of printing materials at the NSPMC.
The CBN stated that the governor did not make any such disclosure during his presentation to the National Council of State at its meeting on Friday, February 10, 2023. According to the CBN, Mr. Emefiele told the meeting that the NSPMC was working on printing all denominations of the Naira to meet the transaction needs of Nigerians.
While the CBN appreciates the concerns of stakeholders regarding the distribution of the Naira, the bank is alarmed at the extent to which vested interests are attempting to manipulate facts and create a rift between the bank and the public. The CBN remains committed to performing its monetary policy functions and restates that the NSPMC has the capacity and materials to produce the required amount of Naira
Similarly, the CBN has also debunked a misleading voice note that was trending on social media, alleging that the CBN planned to shut down some banks, particularly in a particular geopolitical region of the country. The bank stated that there is no such plan and that the claims are illogical and do not comply with the workings of the Nigerian banking system. The public is advised to ignore such recordings as they are only the desperate attempts of persons intent on inciting the public against the bank.
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