CBN confirms agreement to mint Gambian currency

*The Gambia wants to learn how to manage the country’s currency need annually, leveraging Nigeria’s wealth of knowledge and experience, says Buah Saidy, Governor of Central Bank of The Gambia

Isola Moses | ConsumerConnect

Banking on the country’s capacity in currency printing for several decades, the Central Bank of Nigeria (CBN) has announced a pre-agreement with The Gambia regarding the printing the Dalasi, the country’s national currency.

ConsumerConnect learnt Mr. Godwin Emefiele, Governor of CBN, disclosed this Tuesday, June 15, 2021, after an agreement to the proposal from Mr. Buah Saidy, Governor of Central Bank of The Gambia, who led a delegation for a visit to his Nigerian counterpart in Abuja, FCT.

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Emefiele stated that Nigeria has abundant capacity in currency printing, as the West African country has been minting since the 1960s.

“We are willing to assist in printing your currency. We can be extremely competitive in terms of cost,” said he.

Mr. Saidy, in his remarks during the visit, said The Gambia is running very low on currency, and wants to learn how to manage country’s currency need annually, leveraging Nigeria’s wealth of knowledge and experience in this regard.

The Gambian Central Bank Chief noted that The Gambia has placed an order for two- year currency minting deal abroad, but they are considering also minting from Nigeria if Nigeria is willing.