Federal Government (FG) a few hours ago, announced that it has sold her shares worth 12.4billion in the Nigerian Security, Printing and Minting (NSPM) to the Central Bank of Nigeria.
This is according to a statement released from the office of the Vice President, Professor Yemi Osinbajo who represented the FG and presided over the signing of documents at the ceremony held at the State House Abuja.
The top officials of both the NSPM and CBN were all present at the signing and handing over of documents to the Central Bank Governor Godwin Emefiele
The Nigeria Security, Printing and Minting Company is wholly owned by Central Bank of Nigeria, after the take over in 2014 to become a subsidiary of CBN with a sole responsibility of producing Nigeria’s currency and a range of other documents.
The company on record and as reported by CBN, made a profit before tax of N611million, N4.6millionm, and N12.1billion in 2015, 2016, and 2017 respectively, before this new development.
Since the taking over of the management by CBN from FG, the company which is a loss-making organization, has experienced profitability in the last three years.
Vice President Osinbajo who put up the post a few hours ago, captioned the photos from the ceremony, with:
This move is coming just a few weeks after President Muhammadu Buhari approved the appointment of Abubakar Sule Minjibir, Chris Orewa and Tunji Kazeem as Executive Directors of the company.
Vice President Professor Osinbajo today at the State House presided over the signing ceremony for the Sale of the Federal Government’s 12.4 Billion Shares in Nigerian Security, Printing and Minting (NSPM) Plc to the Central Bank of Nigeria #cenbank #AsoVillaToday