Buhari Appoints New MD, Directors for Security Printing Company

President Muhammadu Buhari saturday appointed a new Managing Director and four executive directors for the Nigerian Security Printing and Minting Company (NSPMC).

The president appointed Mr. Abbas Masanawa as the managing director and Mr. Abubakar Minjibir, Mr. Chris Orewa and Mr. Tunji Kazeem as executive directors.

The appointment followed a memo sent to the president by the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, dated August 28, in which he informed Buhari that the tenures of the current managing director, Joseph Ugboh and executive director, Finance, Abbas Masanawa, were ending on August 31.

According to Premium Times, Emefiele had in the memo told Mr Buhari that the two directors took office as members of the executive management of the company in August 2014.

In a document yesterday, Emefiele said prior to its takeover in August 2014, the company “unfortunately was a loss making entity and upon takeover. It returned to profitability with profit before taxes of N611 million, N4.6 billion and N12.1 billion during the financial years ended 2016, 2016 and 2017.”

He said with these results the current management has displayed great dexterity to turn around moribund institutions.

The document also stated that by the existing organisational structure of the company and the need for the NSPMC to attain its full potential, Emefiele suggested that a team comprising of a Managing Director and four executive directors should be appointed.

“To ensure the company continues the track record of strong profitability, I wish to respectfully present for your thoughtful consideration and kind approval candidates for the position of Managing Director and Executive Directors.”

He then went ahead to recommend that while Masanawa should be appointed the managing director, Messrs Kazeem, Orewa and Minjibir should be appointed as executive directors.
Emefiele provided the detailed explanation of the nominees qualifications, experience and suitability for the office for which they were being nominated.

Masanawa, obtained a degree in Agricultural Economics from the Ahmadu Bello University Zaria in 1992, and a post graduate degree in Business Administration from the University of Maiduguri in 2000.

He worked at Zenith Bank for 17 years rising to the position of deputy general manager in 2014 before he left to serve as a special assistant and chief liaison to the CBN governor in September 2014.

He was subsequently appointed as the executive director finance, strategy and marketing at NSPMC.

On his part, Minjibir studied and obtained a degree in Chemistry from Bayero University Kano in 1989 and a postgraduate degree in Business Administration with emphasis on financial management from Chennai, Kinsgter Education and a doctor Of Business Administration, Honoris Causa, Commonwealth University UK.

He has 28 years working experience spanning through the public and private sector.

Kazeem holds a B. A Economics and Accounting from Rutgers University, New Jersey US and a Masters in Business Administration with specialization in Investment Management from Columbia Business School, New York.

He is a seasoned business executive with experience in developing strategic risk management framework to support overall business strategies.

Osawe obtained a Degree in Engineering in 1985 and a Masters in Business Administration in 1995.