The Central Bank of Nigeria has begun the
restructuring if the Nigerian Security Printing and Minting Plc in line
with the directive of President Goodluck Jonathan.
To this end, the board of the company has approved the dissolution of the executive management of the Mint.
It also directed the current Acting
Managing Director, Alhaji Bamali Ahmed, and two executive directors to
retire from the company with effect from September 1, 2014.
The development was confirmed in a
statement signed by the Company Secretary/Legal Adviser to the NSPMC,
Mr. Lawal Adamu, and made available to our correspondent on Thursday in
Abuja.
The statement said that the board had
also approved the appointment of Mr. Joseph Ugbo as the substantive
managing director/chief executive of the company.
The board also appointed Alhaji Abbas Masanawa as the Executive Director in charge of Finance and Strategy of the company.
The statement read in part, “The board of
directors of the NSPM Plc has dissolved the executive management of the
company and directed the current acting managing director and two
executive directors to retire with effect from Monday, September 1.
The changes, it added, were in line with
the new strategic direction of the company aimed at repositioning it as
an efficient and profit-oriented firm that would serve not only the
banknotes and security printing needs of the company, but those of the
West African sub-region.
Jonathan had on Thursday, while speaking
during the unveiling of the national identity card, said he had directed
the CBN governor, Mr. Godwin Emefiele, to reposition the NSPMC to
enable it become a global player in the printing of security documents.
He said, “In fact, when I appointed the
new CBN governor, I told him that the Nigerian Security and Minting
Company must be reformed. There is no way we are doing local government
election, electing House of Assembly members, electing governors in Oyo,
Ekiti, Adamawa that all what we will produce will be done outside this
country. Why?
“Other countries produce their needs, we
claim to be a giant, a giant that will just send everything out, we
empower others we don’t create jobs for our people. And so, the Mint
must be restructured as well as the Independent National Electoral
Commission and other bodies.”