The Central Bank of Nigeria (CBN) has taken a significant step towards enhancing the efficiency of the payment and settlement system by releasing an updated list of accredited cheque printers and personalizers.
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This initiative, conducted in collaboration with the MICR Technical Implementation Committee (MITC), aims to ensure that payment processes are streamlined and meet the highest standards of quality.
The Director of Banking Services, Sam Okojere, confirmed the release of this updated list in a recent circular. The move is in alignment with the National Incentive for Cybersecurity and Payment System (NICPAS) qualification criteria.
The list of accredited cheque printers and personalized institutions includes:
- Superflux International Limited
- Triple Gee and Company plc
- Yaliam Press Limited
- Marvelous Mike Press Limited
- Kas Arts Services Limited
- Papi Printing Company Limited
Additionally, the following institutions have been accredited as personalizers:
- Zenith Bank Plc
- Eco Bank Plc
- Stanbic IBTC Bank Limited
- First Bank Limited
- Keystone Bank Limited
- Wema Bank Plc
- Providus Bank Limited
The CBN emphasized that all accredited entities have been notified, and certifications of accreditation have been duly issued.
Regular updates to the list of accredited personalizers and cheque printers reflect the CBN’s commitment to maintaining stringent standards. This practice ensures that those falling short of the required benchmarks are identified and necessary action is taken. The CBN also evaluates applications from firms that meet the standards set by the MICR Technical Implementation Committee.
Comparing the recent update to the previous one in May 2023, it is notable that the number of accredited printers and personalizers has increased from four to six. However, the list of accredited cheque printers has remained consistent across both updates.
The CBN’s dedication to optimizing payment and settlement processes is evident through these efforts to uphold industry standards and enhance the overall efficiency of Nigeria’s financial systems.
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