By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) has named four (4) local firms accredited to print cheques in Nigeria following an accreditation exercise it conducted.

This is contained in a circular with reference number BPS/DIR/GEN/CIR/02/033 dated December 04, 2014 and signed by Dipo Fatokun, director, banking and payments system department of the CBN.

The four (4) companies are Nigeria Security Printing and Minting Company Plc (NSPMC Plc), Tripple Gee and Company Plc, Superflux International Limited and Euphoria Group Limited.

According to the CBN, the following four (4) firms where accredited to print cheques and other debit pull paper instruments on categories “A & B”, for the Nigerian Market.

The CBN affirmed the appointment of indigenous firms is in with its policy on domestication of cheque production in the country, “no foreign cheque printer was considered nor accredited to print for the Nigerian market,” the CBN said.

Part of the circular reads thus: “In furtherance of its mandate to ensure an efficient payments and settlement system, the Central Bank of Nigeria, in collaboration with the MICR Technical Implementation Committee (MTIC), conducted the accreditation of the Cheque printers in Nigeria for 2014. This was in line with the provisions of the Nigeria Cheque Printers Accreditation Scheme (NICPAS) qualification criteria.

Please note that in line with the Banks policy on domestication of Cheque production in the country, no foreign Cheque printer was considered nor accredited to print for the Nigerian market.

Consequently, all banks are reminded to patronize the CBN accredited cheque printers only, for the printing of cheques, dividend warrants, and any other paper based instruments that are cleared through the Nigerian Clearing and Settlement System,” the CBN added.