Tinubu sacks Buhari’s in-law, four top officials of NSPM

Tinubu.
Tinubu
Tinubu sacks Buhari’s in-law, four top officials of NSPM

In a significant shakeup, President Bola Tinubu has ordered the immediate removal of Ahmed Halilu, the Managing Director of the Nigerian Security Printing and Minting Plc (NSPM), alongside four other top executives. This directive comes months after Investigator Jim Obazee submitted his report to President Tinubu, detailing various issues within the company.

Mr. Halilu, appointed in September 2022 by former President Muhammadu Buhari, is the brother of former First Lady Aisha Buhari. Alongside him, the Executive Director of Corporate Services, Ado Danjuma; Executive Director of Operations (Lagos Factory), Chris Orewa; Executive Director of Security Documents, Tunji Kazeem; and Company Secretary, Victoria Irabor, have also been relieved of their duties. Mrs. Irabor is notably married to retired General Lucky Irabor, a former Chief of Defence Staff.

Related news 

Labour says no going back on N250k minimum wage after meeting with Tinubu

Muslim/Muslim ticket: Tinubu’s govt signs $150bn pro LGBT deal amidst outcries

South-east govs move to free Nnmadi Kanu, to meet with Tinubu soon

In the interim, Abubakar Minjibir, the Executive Director of Operations (Abuja factory), has been directed to act as Managing Director. The reason behind sparing Mr. Minjibir from removal remains unclear. Efforts to obtain comments from the Central Bank of Nigeria (CBN) spokesperson, Sidi Hakama, were unsuccessful as she did not respond to calls or messages.

A top CBN official confirmed the removal of the NSPM executives, stating that the directive was to be executed immediately. This development follows the investigation led by Jim Obazee, who was appointed by President Tinubu to probe the affairs of the CBN under the Buhari administration.

Obazee’s report highlighted NSPM’s involvement in the controversial currency redesign policy spearheaded by former CBN Governor Godwin Emefiele. The policy, which aimed to redesign and reconfigure old naira notes, led to significant disruptions in the economy. The report detailed how Mr. Halilu had informed Mr. Emefiele of the complexities and time-consuming nature of the redesign due to advanced security features. Despite this, Mr. Emefiele proceeded with the redesign, contracting De La Rue, a UK-based company, for a fee of GBP 205,000. The NSPM then struggled to print the redesigned currency, resulting in an unprecedented shortage.

The NSPM Plc, established in 1963 and known as The MINT, is responsible for printing and minting Nigeria’s currency notes and coins. It operates under the supervision of the CBN, producing secure and high-quality currency to ensure financial stability. Additionally, the company manufactures security documents such as passports and stamps for both government and private entities. The MINT is renowned for its advanced security features and complex printing processes designed to prevent counterfeiting and maintain the integrity of Nigeria’s financial system.

 

__________________

We do hope that the information we were able to provide you are helpful. Checkout out other unique articles on our blog for more detailed information and do well to share with your friends and family. Follow us on our Twitter and Facebook to stay updated with premium information.

Please leave any comments or questions in the area given below.

DISCLAIMER: The views and opinions expressed in Fact Check are those of the authors and do not necessarily reflect the official policy or position of Fact Check. Any content provided by our bloggers or authors is of their opinion and is not intended to malign any religion, ethnic group, club, organization, company, individual, or anyone or anything.

Information is presented to the best of our knowledge and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability concerning the website or the information, products, services, or related graphics contained on the website for any purpose. Therefore, any reliance you place on such information is strictly at your own risk.

LEAVE A REPLY

Please enter your comment!
Please enter your name here