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where do nigeria print their money ?

**Where Do Nigeria Print Their Money?**

When it comes to minting their currency, Nigeria is one of the few African countries that does it on their own soil. However, there has been a long-standing debate about whether the country still prints its money abroad or not.

According to the Central Bank of Nigeria (CBN), they do not print Naira notes abroad. In an interview, the CBN Governor, Godwin Emefiele, revealed that the major banks in Nigeria such as First Bank, Zenith Bank, and GTBank, among others, are involved in the production of Nigerian currency. These banks obtain the necessary materials and expertise from foreign countries, but the actual printing is done in Nigeria.

Furthermore, the Nigerian Security Printing and Minting Company Limited (NSPMC), which is a subsidiary of the CBN, is responsible for the production of Nigerian currency. The company has two printing branches in Abuja and Lagos, and it uses state-of-the-art technology to ensure the security and authenticity of the money.

However, some reports suggest that Nigeria does print some of its currency abroad. A Deutsche Welle investigation revealed that more than two-thirds of African countries, including Nigeria, print their money in Europe, mainly in the UK, France, and Germany. This is because some African countries lack the necessary infrastructure and expertise to produce their own currency, and instead, partner with international currency printing companies.

In conclusion, while there is some controversy surrounding the issue, the Nigerian Government and the CBN maintain that the country does not print its currency abroad. However, it is possible that some limited production may occur abroad, particularly for specific denominations or special orders.

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**Sources:**

1. Wikipedia – Nigerian Security Printing and Minting Company Limited
2. Jump Africa – Where Nigeria Money Is Printed: The History and Facts
3. Deutsche Welle – Why Africa prints money in Europe
4. Nairaland – Where Is The ‘naira’ Note Printed? In Nigeria or Abroad?
5. Pulse Live – 9 African countries print their own currency, among them Kenya, Nigeria, South Africa…

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**Additional Resources:**

1. YouTube Video: Where do Nigeria print their money?
2. Wikipedia – Nigerian Naira
3. Wikipedia – Banknote
4. Wikipedia – United States dollar

Please note that this article is a summary of existing sources and may not reflect the entire debate on the topic.