- June 17, 2021
- Posted by: adminer
- Category: Economics, Finance
An Economist, Prof. Lanre Olaniyan, has described, as a win-win, the proposal from the Gambia foro Central Bank Nigeria (CBN) to help in printing the country’s currency, the dalasi.
Olaniyan, a Professor of Economics from the University of Ibadan, said that Nigeria would be able to generate foreign exchange from the deal.
He added that the country would also be winning the confidence of other countries that Nigeria is a safe place to do business.
He, however, urged the Central Bank of Nigeria (CBN) to develop capacity of the Nigeria Security Printing and Minting (NSPM) Plc to meet all local currency needs before accepting proposals from other countries.
“I am aware that we have been printing the Naira from outside, but we have the NSPM which is supposed to do these things. If it is presently working that is good for everybody.
“The proposal from Gambia shows that we have capacity to print our own currency independently and save some foreign exchange.
“It also sends signals to other countries that Nigeria is a place where you can do business and print your money..