CBN appoints Sule Minjibr as acting MD, NSPMs, sacks previous management

The Central Bank of Nigeria (CBN) on Wednesday sacked the top management team of the Nigerian Security Printing and Minting Plc, (NSPM) and appointed Abubakar Sule Minjibr as the acting Managing Director.

The development is contained in an internal memo “House Notice No. 2083 – Executive Management Changes” signed by Soji Ogungbesan, General Manager of Corporate Services at the company.

Minjibr replaces Ahmed Halilu, the company’s former MD& CEO who was widely reported as an elder brother to Aisha Buhari, wife of the former President,
Muhammad Buhari, and was appointed by him in 2022.

Also appointed as part of the new interim executive management are Mohammed Mustapha (GM, finance and strategy) and Adesoji Ogungbesan (GM, Corporate Services).

The memo dated 10th July 2024 partly read: “The board has announced the immediate dissolution of the present executive management team of the NSPM, and has approved the immediate constitution of an interim executive management team, as follows: Mr Abubaka Sule Minjibir Ag, Managing Director; Mr Muhammed Mustapha  Gm, Finance and Strategy; Mr.Adesoju Ogungbesan Gm, Corporate Service.”

“The management team assures all staff of its commitment to the welfare of the staff of the NSPM, the strategic initiative and organization transformation developed by the board.

“Staff members are encouraged to cooperate with the new management team to achieve the board’s strategic vision for the company.”

Sacked alongside Halilu include Ado Danjuma, who served as ED Corporate Services; Tunji Kazeem, ED Security Documents; Chris Orewa, ED Lagos factory and Victoria Lucky Irabor, Company Secretary and Legal Adviser.

BusinessDay recalls that Buhari’s appointment of his brother-in-law to head the Mint had raised an uproar with Gravitas Group, an international advocacy organisation, entirely condemning it and calling it a family affair.

“It was worrisome that the President’s brother-in-law would superintend over the printing of all sensitive materials in the land, a development it said was tantamount to bringing the country’s Mint to his bedroom,” Gravitas Group had noted in a statement at the time.