President Muhammadu Buhari makes 4 crucial appointments

macfranc007 September 01, 2018 Nigeria News today & Breaking news ▷ Read Naija news 24/7 Eromosele Ebhomele

- President Muhammadu Buhari approved the appointments after a recommendation by Godwin Emefiele, the governor of the CBN

- While Abbas Masanawa is named the managing director, the other three would be executive directors of the company

- Emefiele also explained how the company moved from one that ran at losses to becoming a profitable organisation

President Muhammadu Buhari has made new appointments into the Nigeria Security Printing and Minting Company (NSPMC), with a new managing director named as Abbas Masanawa.

Also approved for appointment are Abubakar Sule Minjibir, Chris Orewa and Tunji Kazeem who would be executive directors in the company.

Leadership reports that the appointment followed the recommendation made by the governor of the Central Bank Of Nigeria (CBN), Godwin Emeifiele, in a memo dated: August 28, 2018, to the president.

The report quoted Emefiele as saying in the letter that the tenure of the current managing director of the company, Joseph Ugboh, and the executive director of finance, Abbas Masanawa, ended on August 31, 2018.

Emefiele noted that these directors took over as executive management members of the company in 2014.

Emefiele noted that before the company was taken over, it ran at a loss. It had since returned to profitability with N611 million, N4.6 billion and N12.1 billion during the financial years of 2015, 2016 and 2017 respectively.

The CBN governor said with these results, the management has displayed strong dexterity to turn around moribund institutions.

By the existing organisational structure and to attain its full potentials, the NSPMC should be managed by a team comprising of managing director and four executive directors.

“To ensure that the company continues the track record of strong profitability, I wish to respectfully present to you for your thoughtful consideration and kind approval candidates for the position of Managing director and executive directors.

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“Your excellency we have been discreetly, uprightly, meticulously conducting the search for a suitable replacement for Joseph Ugboh under the guide post of three principles - intrinsic quality, geopolitical balance, working experience.

“Please permit me to note that given the resume of the candidates and having considered other personality, characteristic and capability related facts, I am convinced that the best persons for the position of managing director and executive directors are Messrs Abbas Masanawa ( MD), Tunji Kazeem, Chris Orewa and Abubakar Suleiman Minjibir respectively as EDs,” he stated

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