Revealed: How Managing Director Of Nigeria Security Printing And Minting, Allegedly Personalized The MINT Through CBN Governor’s Office

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As the anti-graft war gathers storm, some forgotten strategic federal agencies such as the Nigeria Security Printing and Mint Plc are coming under scrutiny from top officials of the administration.

Confirmed report indicated that the Joseph Ugbo led management of the company is under watch and scrutiny due to what a source described as “opaque and secretive operations that encourages corruption”

Checks indicated that MINT as the agency is popularly called attracted attention in the ongoing review of agency leadership because its leadership is integrated with the leadership of the Central Bank of Nigeria.

The CBN Governor is the chairman of its Board of Directors, thereby making its operations allegedly shrouded in secrecy even while its management operated as though it is a secret organization.

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Investigation showed that due to the structure of the company, accountability and transparency appeared compromised especially as the Ugbo led team was recommended and installed by the CBN Governor whose special Assistant was also appointed as the Executive Director, Finance.

Aside the above two, the next most senior person on the management team is the technical adviser to the CBN governor, making the MINT an extension of the CBN Governor’s office.

The situation has reportedly attracted the attention of senior administration officials who were shocked at the alleged personalisation of the MINT through the CBN Governor’s office.

According to a source aware of the situation,” the strange arrangement at MINT attracted the attention of top administration officials during ongoing appointments into federal agencies.

“MINT was not listed and that raised eyebrows at the highest quarters. Questions were asked and it dawned on everybody that something fishy is going on”, the source said.

How a company established in 1965 becomes an extension of the CBN Governor’s office is reported to be the focus of ongoing investigation within the highest level of government.

Since the MINT began full operation, it has been producing currency notes and coins for the Central bank of Nigeria as well as a wide range of security documents for federal, state and local government establishments, commercial banks, blue chip companies amongst others.

Its operational capability compares favourably with any international security printing establishment of high repute due to its huge investment in high technology equipment, technical training, and calibre of human resources, research and development.

The MINT which has been self-financing since inception has archived considerable business growth to date.

More To Come Soon……..

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