MINT board sacks MD, EDs

The board of the Nigerian Security Printing and Minting Plc (the MINT), on Thursday, dissolved the MINT’s executive management committee and named Joseph Ugbo as new substantive managing director.

The board, chaired by the governor of the Central Bank of Nigeria (CBN), Godwin Emiefele, directed the erstwhile acting managing director/chief executive officer, Ahmed Nuhu Bamali; director of finance, Ibrahim Babayo and director of operations, Muhammodu Gambo, to retire with effect from September 1, 2014.

A statement by company secretary/legal adviser of the MINT, Lawal Adamu, said the board further announced the appointment of an executive director in charge of finance and strategy, Abbas Umar Masanawa, a former special assistant to Emefiele and a former deputy general manager of Zenith Bank.

“These changes are in line with the new strategic direction of the company aimed at repositioning the NSPM Plc as an efficient and profit-oriented company that would serve, not only the banknote and security printing needs of our country but also those of the West African sub-region”, the statement read.