CBN Prohibits Foreign Firms From Printing Cheque Books For Nigerian Banks

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The Central Bank of Nigeria, CBN, has on Tuesday August 18, 2015, banned foreign printers who hitherto printed cheque books for some Nigerian banks.

A circular released in this regard and signed by Dipo Fatokun, director, Banking and Payment Systems Department reads: “Circular to deposit money banks, cheque printers and other stakeholders on the accreditation of cheque printers for 2015/2016.″ 

Here is the circular below:

‘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 reaccreditation exercise, in line with the NICPAS qualification criteria and found the (accredited) cheque printers as qualified to print cheques for the Nigerian market. 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.



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