Understanding Nigerian Security Printing and Minting Company Limited Operations

The Nigerian Security Printing and Minting Company Limited is a leading security printing and minting company in Nigeria. It was established in 1963 as a public limited liability company.

The company's primary objective is to provide high-quality security products and services to the Nigerian government and other organizations.

The company operates under the supervision of the Central Bank of Nigeria, ensuring that its activities meet the required standards.

The Nigerian Security Printing and Minting Company Limited is responsible for printing and minting Nigeria's currency, including the Naira banknotes and coins.

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The Central Bank of Nigeria (CBN) made some significant changes to the executive management team of the Nigerian Security Printing and Minting Company Limited (NSPM). Abubakar Sule Minjibr was appointed as the acting Managing Director.

The previous management team was dissolved, and new interim executives were appointed. Mohammed Mustapha took on the role of General Manager, Finance and Strategy, and Adesoji Ogungbesan became General Manager, Corporate Services.

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The change in management was announced in an internal memo, signed by Soji Ogungbesan, General Manager of Corporate Services at NSPM. The memo stated that the board had approved the dissolution of the current executive management team and the installation of an interim management team.

Ahmed Halilu, the company's former Managing Director and CEO, was among those who were let go. He was widely reported to be an elder brother to Aisha Buhari, wife of former President Muhammad Buhari, who had appointed him in 2022.

The Nigerian Security Printing and Minting Company Limited is a leading security printing and minting company in Nigeria. It's headquartered in Abuja and Lagos, and is owned by the Nigerian government.

The company is responsible for printing and minting some Nigerian currency notes. They also produce stamps.

The Central Bank of Nigeria (CBN) is the sole issuer of high-denomination currency in Nigeria. It regulates the supply of currency and inflation to maintain the value of the naira.

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The CBN's Currency Department is responsible for managing currency, from production to distribution. They handle everything from printing to recycling of currency notes.

In 2002, President Olusegun Obasanjo established the Mint, but it was later criticized by the Managing Director, Sambo Dasuki, who resigned in protest.

The Governor of the Central Bank of Nigeria, Charles Chukwuma Soludo, revealed in 2006 that Nigeria was the only country in the world that minted currency but didn't produce it. He stated that they were working on producing currency on their own.

In 2010, the Chief Executive, Mr. Emmanuel Ehidiamhen Okoyomon, was described as "taking the mint to new heights."

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In 2009, the case of Adekoye & Ors v. was a significant milestone for the Nigerian Security Printing and Minting Company Limited.

The court ruled in favor of the company, upholding its right to print and mint currency.

The case highlighted the importance of the company's role in managing Nigeria's currency.

The ruling was a major victory for the company, which had been facing challenges in its operations.

However, the details of the case remain largely confidential, and the exact circumstances leading to the court's decision are not publicly disclosed.

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