The Nigerian Security Printing and Minting Company Plc is the

Nigeria Nigeria, officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf of Guinea in the Atlantic Ocean to the south. It covers an area of . With Demographics of Nigeria, ...

n banknote printer and

mint Mint or The Mint may refer to: Plants * Lamiaceae, the mint family ** ''Mentha'', the genus of plants commonly known as "mint" Coins and collectibles * Mint (facility), a facility for manufacturing coins * Mint condition, a state of like-new ...

. It is located in both

Abuja Abuja (; , ) is the capital city of the Federal Republic of Nigeria, strategically situated at the geographic midpoint of the country within the Federal Capital Territory (Nigeria), Federal Capital Territory (FCT). As the seat of the Federal G ...

and

Lagos Lagos ( ; ), or Lagos City, is a large metropolitan city in southwestern Nigeria. With an upper population estimated above 21 million dwellers, it is the largest city in Nigeria, the most populous urban area on the African continent, and on ...

and is majority-owned by the

government of Nigeria The federal government of Nigeria is composed of three distinct branches: Federal Ministries of Nigeria, the executive, the National Assembly (Nigeria), legislative, and the Supreme Court of Nigeria, judicial, whose powers are vested and bestow ...

. In addition to printing the banknotes and the postal orders of Nigeria, it has struck some of the coins of Nigeria. It also prints stamps. The

Central Bank of Nigeria The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are t ...

(CBN) is the sole issuer of legal tender money throughout the Federation. It controls the volume of money supply in the economy in order to ensure monetary and price stability. The Currency & Branch Operations Department of the CBN is in charge of currency management, through the procurement, distribution/supply, processing, reissue and disposal/disintegration of bank notes and coins. The privatization of the Mint by President

Olusegun Obasanjo Chief Olusegun Matthew Okikiola Ogunboye Aremu Obasanjo (; ; born 5 March 1937) is a Nigerian former army general, politician and statesman who served as Nigeria's head of state from 1976 to 1979 and later as its president from 1999 to 200 ...

in February 2002 was controversial, and Managing Director Sambo Dasuki resigned in protest. In 2006, the Governor of the Central Bank of Nigeria,

Charles Chukwuma Soludo Charles Chukwuma Soludo (; ( born 28 July 1960) is a Nigerian politician, banker, and economist who serves as the fifth governor of Anambra State since March 2022. He is a former governor and chairman of the board of directors of the Central ...

, ''regretted that Nigeria was the only country in the world that had a mint but still imported currency,'' and announced that privatization was on track. In 2010, Chief Executive Mr. Emmanuel Ehidiamhen Okoyomon was described as "basking in the genteel applause that has characterized the turning around of the Mint." As of February 2015, "Naira notes and coins are printed/minted by the Nigerian Security Printing and Minting Plc (NSPM) Plc and other overseas printing/minting companies and issued by the Central Bank of Nigeria (CBN)." Founded in 1963 as a partnership between the

Federal government of Nigeria The federal government of Nigeria is composed of three distinct branches: the executive, the legislative, and the judicial, whose powers are vested and bestowed upon by the Constitution of the Federal Republic of Nigeria. One of the primary f ...

and

De La Rue De La Rue plc (, ) is a British company headquartered in Basingstoke, England, that produces secure digital and physical protections for goods, trade, and identities in 140 countries. It sells to governments, central banks, and businesses. Its ...

to print banknotes, stamps, postal orders and licences, the first factory on Ahmadu Bello Way,

Victoria Island Victoria Island () is a large island in the Arctic Archipelago that straddles the boundary between Nunavut and the Northwest Territories of Canada. It is the eighth-largest island in the world, and at in area, it is Canada's second-largest i ...

was built by Lindsay Parkinson. Between 1975 and 1980, during Nigeria's oil boom, the company expanded which led to the creation of specialized departments. As of November 2024 the Acting Managing Director is Abubakar Minjibir replacing Ahmed Hali

References

External links

Nigerian Security Printing and Minting Company
Government-owned companies of Nigeria Manufacturing companies of Nigeria Banknote printing companies Mints (currency) Currencies of Nigeria {{Nigeria-company-stub

See also

References

External links