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From Kenneth Udeh , Abuja
Managing Director of the Nigerian Security Printing And Minting Plc, Ahmed Halilu could not give an account of the amount of Naira notes printed in the Country in recent years.
The Senate finance committee had Wednesday engaged with the Minister of Finance and Coordinating Minister of the Economy of Nigeria, Wale Edun in which he provided updates on prevailing economic issues such as Inflation, Security, Agriculture, 2024 Budget and stamp duties.
Taking his turn to appear before the Finance committee chaired by Senator Sani Musa , the NSPM MD while responding to a request made by Sani Musa told the Senators that he was not fully prepared to provide such details.
According to him though he acknowledges that fact it is the responsibility of the Minting company to tell the Nigerians the amount of currency printed by the NSPM he will however make available the details to the committee in private.
While craving the indulgence of the Senators , Halilu gave assurances that he will provide the details of the amount printed by the company in the last 10 years beyond the demand made by the Lawmakers. He also assured the committee that the record that will be submitted to the Senators will correspond with the report of the Central Bank of Nigeria, CBN.
Senator Sani Musa asked the NSPM MD to tell Nigerians the amount of currency printed by the company in the last two years. He asked; “Nigerians would like to know the amount of Naira Notes printed by your company in the last two years , I am not talking about the records given by the CBN.
How much of Money has the Nigerian security Printing and Minting has produced in the last two years?
Haliu responded; “I want to crawl your indulgence, because I have not come fully prepared but it’s our responsibility to provide correct information. We crave your indulgence to submit to your office and what we have will correspond with what the CBN will give you.
Earlier the MD told the Senators that the NSPM has remitted the amount collected from Stamp duties from January 2020 – January 2023.
He said; “We have remitted between Jan 2020 and Jan 2023. We have been remitting on a monthly basis till date. We have two certificates of stamp duties we have substantially complied and we shall continue to comply.
Responding to a question asked by a Member of the committee, Senator Seraike Dickson if the NSPM is the only printing company used by the CBN to print the Nation’s currency notes.
Ahmed Halilu answered in the negative, saying that according to his knowledge the NSPM has been the company used by the CBN to print the Nation’s currency notes in the last 10 years. Halilu added that at no time had the CBN outsourced the printing of the Naira notes.
In his concluding remark Chairman of the committee Senator Sani Musa told the MD that the committee will peruse his report and also welcomed the proposal made by the Halilu to furnish the committee with the amount of currency printed by the NSPM in the last 10 years.
