Finance

Gambia explores Nigeria to mint currency

The Central Bank of Nigeria (CBN) has agreed in principle to mint The Gambian Dalasi.

The Central Bank of Nigeria (CBN) has agreed in principle to mint The Gambian Dalasi.

The CBN Governor, Godwin Emefiele, agreed to the currency minting proposal from the Governor of the Central Bank of The Gambia, Buah Saidy, who led a delegation to visit him on Tuesday.

Emefiele said Nigeria had a lot of capacity in currency printing as she has been minting since the 1960s and “we are willing to assist in printing your currency. We can be extremely competitive in terms of cost.”

The Gambian Central Bank Governor said his country was running very low on currency and wants to learn how to manage their currency need annually leveraging on Nigeria’s wealth of knowledge and experience.

He said currently, they placed an order for two years currency minting deal abroad but they are considering also minting from Nigeria.

On its part, the Nigerian Security Printing and Minting Company Plc said it was ready if both parties came to a deal.

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