Nigeria is one of four of the 54 African nations, according to President Muhammadu Buhari, that print their own money.
On November 23, as the Central Bank of Nigeria unveiled the new Naira notes, President Buhari stated it is a source of pride for Nigeria not to produce its money abroad like many African nations do.
He stated:
“While this may not be apparent to many Nigerians, only four out of the 54 African countries print their currencies in their countries and Nigeria is one. And majority of African countries print their currencies abroad and import them the way we import other goods.
“That is why it is with immense pride that I announce that these redesigned currencies are locally produced right here in Nigeria by our Security Printing and Minting PLC.”
