According to a recent circular signed by the Director of the Banking Services Department, Sam Okojere, the Central Bank of Nigeria has approved four local companies for cheque printing in the country.
The circular confirms that the accredited firms authorized to serve as printers and personalizers of cheques are Superflux International Limited, Tripple Gee and Company, Yaliam Press Limited, and Marvelous Mike Press.
The CBN said, “In furtherance of its mandate to ensure an efficient Payment and Settlement System, the Central Bank of Nigeria, in collaboration with the MICR Technical Implementation Committee, conducted the re-accreditation of Cheques Printers and Cheque Personalised in line with the NICPAS qualification criteria. As of May 4, 2023, the Cheque Printers and Personalised with valid accreditation licenses are as follows.”
According to the circular, the approval also extended to seven banks as personalizers of cheques. These banks are Zenith Bank Plc, Ecobank Plc, Stanbic IBTC Bank Plc, First Bank Ltd, Keystone Bank Ltd, Wema Bank Plc, and Providus Bank Ltd.
The circular further stated that all accredited printers and personalizers have been duly notified and issued certificates. Nigeria Security Printing and Minting Company Plc and Euphoria Group Limited are the firms responsible for printing and personalizing cheques.
It is worth noting that Nigeria Security Printing and Minting Company Plc, responsible for printing the country’s currency, including the recently introduced new N1000, N500, and N200 notes, is among the approved firms.
The number of cheque printers has significantly reduced from 14 in 2010 to the current four, marking a decline of 71.43 percent.