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.

“Consequently, the board has approved the appointment of Mr. Joseph Ugbo as substantive managing director/chief executive officer and Alhaji Abbas Masanawa as executive director in charge of finance and strategy of the company.”

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.”


http://www.punchng.com/business/business-economy/cbn-begins-restructuring-of-nspmc-retires-directors-2/

Better. Change is all we need. With 2015 in mind....the changes are necessary. Incase u don't know. ..lemme tell u....FTC.. (nt my 1st tym sah)..But I'm kinda surprise I made it this morning thanks to sharpness of Airtel..amd their so called WTF bundle.

Ok

Good work

CBN? All i can remember is the #65 charge for now

Good Development.. Buh I hope the people to replace them re BETTER... Changes re what we need..

haaa

Good move

Okay

Tazmode: CBN? All i can remember is the #65 charge for now

me too. That their #65 is putting me off.

How well would it end or is it a way of d new cbn governor making things for him

Smh

nice move by CBN, so when will the be employing? because I see vacant positions that needs to be filled

wait, op, can you repeat what you have just said?

etunoman76: 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.
“Consequently, the board has approved the appointment of Mr. Joseph Ugbo as substantive managing director/chief executive officer and Alhaji Abbas Masanawa as executive director in charge of finance and strategy of the company.”
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.”
http://www.punchng.com/business/business-economy/cbn-begins-restructuring-of-nspmc-retires-directors-2/

wait, op, can you repeat what you have just said?

Well......

Good move, GEJ is working, the best president that has ever ruled Nigeria,what he has achieved none of our past presidents even achieved half of what he has achieved . GEJ till 2019

lilprinze: .

caught u booking space.

Innodon: caught u booking space.

You too take style dey book space

Good move

Innodon: caught u booking space.

By the way, they should not try to recruit people for this one as they did with immigration. Because people will kill massacre themselves for a job there

YoursGEJ:

You too take style dey book space

no mind dem jare

Tazmode: CBN? All i can remember is the #65 charge for now

because you are always blind to good things. Moreso the 65 is also a good thing cos it will make banks sit up and make ATMs much more efficient. GEJ till 2019.

Nigeria is constantly changing to better

God punish devil , this morning I see text from gt bank I don dey happy sey my popsman don finally send me d cheeze ,only to find out say dem don deduct N8.00 for alerting services

Uhm.....

Good news for smart phone users, u can get d cheapest data plan(MTN and Etisalat) for ur internet enabled devices why waste more when u can pay less for as low as N400 for 250mb...check dis out on this thread. www.nairaland.com/1852534/mtn-data-cheapest-rate#25391662

Ok

Sound Sultan: dem come again, dem come again o! ghen! ghen!..

“Consequently, the board has approved the appointment of Mr. Joseph Ugbo as substantive managing director/

Nepotism

What a good and right step taken! I used to hear about this company many years back but lately, it has gone underground. Even, our ballot papers are being printed and imported into the country from South Africa . I hope they will be able to resuscitate and reposition it to meet our need even locally.

Thank God

What more can I say.GEJ till 2019