CBN Authorizes 4 Firms to Print Cheques for Banks … As Reserves Fall to $35.95bn

The Central Bank of Nigeria (CBN) has accredited four firms to print. Cheques for all banks in Niger ia. This is even as the nation’s foreign reserves has gone down to all another low of $35.95 billion.
The firms authorised to print cheques are Nigeria Security Printing and Minting Company Plc, Tripple Gee and Company Plc, Superflux International Limited and Euphoria Group Limited to print cheques and other debit paper instruments for the 23 banks in the country, Daily Independent reports.
In a to circular to Deposit Money Banks and Cheque Printers, signed by CBN’s Director, Banking and Payments System Department, Dipo Fatokun, the apex bank warned all banks to patronise only the four accredited companies for the printing of cheques, dividend warrants and any other paper based instruments that are cleared through the Nigerian Clearing and Settlement System.
CBN says the certification of the four firms was the outcome of an accreditation exercise of cheque printers in Nigeria that it jointly carried out with the MICR Technical Implementation Committee in line with the Nigeria Cheque Printers’ Accreditation Scheme (NICPAS) qualification criteria.
Foreign reserves fell to $35.95 billion by December 8, down 19.3 per cent from a year earlier as the Central Bank of Nigeria (CBN) stepped up its defence of the naira, figures on the CBN”s website showed.
The reserves of Africa’s biggest economy and top oil producer fell from $44.53 billion in same period last year. Reserves stood at $37.98 billion a month ago, the data showed on Wednesday.
The naira has fallen 12.1 per cent against the dollar this year, including a one-off, eight per cent devaluation by the central bank last month, as global oil prices plunged.
The Central Bank of Nigeria (CBN) has accredited Nigeria Security Printing and Minting Company Plc, Tripple Gee and Company Plc, Superflux International Limited and Euphoria Group Limited to print cheques and other debit paper instruments for the 23 banks in the country, Daily Independent reports.
In a to circular to Deposit Money Banks and Cheque Printers, signed by CBN’s Director, Banking and Payments System Department, Dipo Fatokun, the apex bank warned all banks to patronise only the four accredited companies for the printing of cheques, dividend warrants and any other paper based instruments that are cleared through the Nigerian Clearing and Settlement System.
CBN says the certification of the four firms was the outcome of an accreditation exercise of cheque printers in Nigeria that it jointly carried out with the MICR Technical Implementation Committee in line with the Nigeria Cheque Printers’ Accreditation Scheme (NICPAS) qualification criteria.

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