A banker who has decided to remain anonymous has lamented over the state of things regarding the Naira scarcity where he claimed that with the current capacity of the minting company, they wouldn’t be able to print a significant amount of money that will be sufficient for the masses.
The banker who spoke to punch news claimed that the CBN had so far collected 2.1 trillion Naira of the old notes from the masses, and that it may take about 1 year for the Nigerian Security And Printing Plc to print the equivalent amount which was taken out of circulation by the Apex bank.
Lamenting over the sufferings of the masses in accessing their monies, he however questioned the apex bank why such a huge amount of the old money was removed from the masses without having sufficient capacity to print more money.
He said…“Is it not obvious that the NSPMC does not have the capacity to print more than N500bn? With the Mint’s current capacity, to print N2tn will take about a year”
His statement is however coming after the CBN, during the meeting with the National Council of State had indicated that they will contact foreign contractors to help assist in the printing of the redesigned Naira to enable fast circulation.
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