Central Bank of Nigeria, (CBN) has said it has the capacity to print the new naira notes.
This is following reports that the CBN Governor, Godwin Emefiele, has attributed the current challenge in the distribution of the newly redesigned naira banknotes to a shortage of printing materials at the Nigerian Security Printing and Minting Company Plc.
The Director of Corporate Communications, CBN, in a statement today, said such reports that may have been credited to Emefiele was a misquote.
The statement said Emefiele informed the council of state that the Nigerian Security Printing and Minting Company Plc was working to print all naira denominations to accommodate Nigerians’ transaction needs.
It added that at no time did the CBN Governor disclose this during his presentation to the National Council of State at its meeting on Friday, February 10th.
The statement further states that the CBN remains committed to performing its monetary policy functions, as stipulated in the CBN Act, 2007, as amended.