President Bola Tinubu yesterday ordered the immediate removal of the Managing Director of the Nigerian Security Printing and Minting Plc, (NSPM), better known as The MINT, Ahmed Halilu, along with four other high-ranking executives of the company.
Ahmed Halilu, who is a brother to former First Lady A’isha Buhari, was appointed by former President Muhammadu Buhari in September 2022.
The other dismissed officials include Ado Danjuma, Executive Director of Corporate Services; Chris Orewa, Executive Director of Operations at the Lagos Factory; Tunji Kazeem, Executive Director of Security Documents, and Victoria Irabor, Company Secretary. Mrs. Irabor, who is married to retired General Lucky Irabor, a former Chief of Defence Staff.
Notably, under Irabor’s tenure in 2023, the Defence Headquarters protected former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, from arrest by deploying troops to secure his home and office.
The current Executive Director of Operations at the MINT’s Abuja factory, Abubakar Minjibir, has been directed to step in as Acting Managing Director. The reasons for his retention remain unclear.
Attempts to reach CBN spokesperson, Sidi Hakama, for comments were unsuccessful, as she did not respond to calls or messages. However, a senior official confirmed the immediate departure of the affected The MINT’s executives.
This overhaul follows the submission of a report by Jim Obazee, a special investigator appointed by President Tinubu to examine the CBN’s operations under Buhari’s administration. Obazee’s report highlighted The MINT’s involvement in the contentious currency redesign policy led by Emefiele, which disrupted businesses and individuals nationwide.
The report detailed that during the initiation of the naira redesign policy, Emefiele summoned Halilu to the CBN headquarters, instructing him to redesign the Naira notes. Halilu indicated that the task was complex and time-consuming due to the intricate new features like watermarks, QR codes, and advanced security elements, suggesting a reevaluation of the timelines.
Despite Halilu’s concerns, Emefiele pressed on, contracting UK-based company, De La Rue for £205,000 to redesign the currency. The MINT was later tasked with printing the new notes but failed to meet demands, leading to a severe currency shortage.
Established in 1963, NSPM Plc, or The MINT, is responsible for printing and minting Nigeria’s currency. Operating under the supervision of the CBN, it also produces security documents such as passports and stamps. Renowned for its advanced security features, NSPM plays a critical role in maintaining the integrity of Nigeria’s financial system.
