Firm derides provision of forex by CBN for production of passports
By Tom Okpe
A firm contracted by the Federal Government for the production of the country’s international passports, Iris Smart Technologies Limited, has decried the unavailability of Foreign Exchange, (Forex) to carry out its operations effectively, by the Central Bank of Nigeria, (CBN).
The company, also accused the Nigeria Security Minting and Printing PLC (NSMP) of sabotaging its efforts, saying the government agency failed to secure contract for the production of national passports.
Managing Director of the Company, Yinka Fisher, made these revelations when he appeared before the House of Representatives Adhoc Committee, investigating proposed domestication and processing of Nigerian international passports.
He said prior to their engagement by the FG, the country had a shabby passport administration.
“Today we have a system where we have a central processing centre with a strong inventory control mechanism. Last year, we delivered a record number of booklets to the Nigeria Immigration Service, (NIS) which was about 1.9 million booklets.
READ ALSO: Dana air signs training MOU with crew training
“This year for the first four months, we have delivered nearly 800, 000 booklets. We are on course for another record supply this year.
“The Nigeria Immigration Service gave Nigeria Security Minting and Printing, PLC the opportunity to print the first set of booklets.
“When they were delivered, it was substandard. The government discarded them and decided to have an international tender for the production and embedding of chips.
“Five companies were invited. Three foreign companies, Nigeria Security Minting and Printing PLC and ourselves.
“The Nigeria Security Minting and Printing PLC were found to be technically incompetent and expensive. The IRIS bid was found to be technically competent and price competitive. The award was given to IRIS to produce the passports.
“The project from the beginning was contractor financed. Government did not, and has not put any money in it since the beginning. The funding had been by us.
“We took a N3 billion facility from the bank to start the project. Till now, government has still not put a kobo. We were paid for the goods and services and we delivered. We don’t do revenue sharing. If we deliver 100 booklets they pay us for 100 booklets.
“Till date government has revenue of over 100 billion and over 200 million dollars. There are two revenue streams,” he added.
