Connect with us

Business

CBN discloses agreement to mint Gambian currency

Published

on

CBN fires back at NESG, claims it protected economy from extraordinary shock

The Central Bank of Nigeria (CBN) has announced a pre-agreement with the Gambia regarding the printing the Dalasi.

The Dalasi is the name of Gambia’s currency.

Godwin Emefiele, the CBN Governor disclosed this on Tuesday after an agreement to the proposal from the Governor of the Central Bank of the Gambia, Mr. Buah Saidy, who led a delegation for a visit.

According to Emefiele, Nigeria has 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.”

READ ALSO: PDP govs cry out, say CBN, NNPC now act as separate govts under Buhari

In his remarks, Saidy said the Gambia is running very low on currency and wants to learn how to manage their currency need annually leveraging Nigeria’s wealth of knowledge and experience.

He further stated that the Gambia placed an order for two years currency minting deal abroad but they are considering also minting from Nigeria if Nigeria is willing.

By Mayowa Oladeji

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations