For foreign printing firms who are often engaged by Nigerian banks in printing of cheque books, it is no longer business as usual.
The Central Bank of Nigeria (CBN) on Tuesday August 18, 2015, denied them accreditation in line with its bid to domesticate printing of cheques.
CBN Governor, Godwin Emefiele.
A circular released in this regard: “Circular to deposit money banks, cheque printers and other stakeholders on the accreditation of cheque printers for 2015/2016,″ stated that the bank has duly notified all accredited printers and issued them certificates.
The circular signed by Dipo Fatokun, director, Banking and Payment Systems Department reads: “All the accredited printers had been duly notified and certificates issued. Please note that foreign based printers were neither accredited nor re-accredited, in line with the bank’s policy on the domestication of cheque printing in Nigeria.”
List of accredited printers include Superflux International Ltd, Tripple Gee and Company Plc, Nigeria Security Printing and Minting Plc, Euphoria Group and Popi Printing Company Ltd.
According to the circular, CBN also took the initiative in furtherance of its mandate to ensure efficient payment and settlement system: ”The Central Bank of Nigeria, in collaboration with the MICR technical implementation committee, conducted the accreditation and re-accreditation exercise, in line with the NICPAS qualification criteria and found the (accredited) cheque printers as qualified to print cheques for the Nigerian market” it stated.
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