Nigeria's Currency Printing: Foreign Firms Dominate, Local Mint Struggles
A recent CBN report reveals a staggering 65% of Nigeria's banknote production is handled by foreign contractors, sidelining the government-owned Nigerian Security Printing and Minting Plc. This disclosure sparks crucial questions about local capacity, economic independence, and the strategic outsourcing of national assets. The nation's financial sovereignty is under scrutiny as external entities dictate the pace of currency supply.
Foreign security printing firms handled 65 percent of Nigeria’s approved banknote production programme in 2025, despite the existence of the government-owned Nigerian Security Printing and Minting Plc (NSPM), the Central Bank of Nigeria (CBN) has disclosed. The disclosure was con
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