0 C
Lagos, NG
20th July 2019

Buhari gives NSPMC sole authority to print E-Passport

Security still tops my agenda for Nigeria – Buhari assures Nigerians
Security still tops my agenda for Nigeria – Buhari assures Nigerians

President Muhammadu Buhari has on Thursday 11th July 2019 directed that the production and personalization of all Nigerian E-passports and related documentation shall be the sole responsibility of the Nigerian Security Printing & Minting Company (NSPMC).

The NSPMC popularly known as The Mint, was established in 1963 with the objective of producing the nation’s currency notes and coins for the Central Bank of Nigeria as well as security documents for Ministries, Departments & Agencies of Govt, banks and other blue-chip companies.

With the new directive issued to NSPMC from the President, all existing memoranda of understanding and contracts on printing by other institutions/companies will not be renewed.

The Mint is the largest banknote and security documents specialist printing company in West Africa. However, its performance was rapidly dwindling in terms of both currency production and security documents prior to 2014.

Under the chairmanship of the Central Bank Governor, Mr Godwin Emefiele, new targets were set, and Managing Director/Chief Executive Officer of The Mint, Mr Abbas Umar Masanawa recounts some of the achievements to include:

The zero importation of currency from 2014 to date, with attendant benefits of conservation of foreign reserve, revenue and employment generation, as well as safeguarding the nation’s sovereignty.

Mr Masanawa: “The Mint has returned to profitability. From a moribund organization with heavy losses, the company grew from a loss position of N14. 6 million in 2014 to a profit of N14. 3 billion in 2018. Turnover also grew from N17.8 billion in 2014 to N61.4 billion in 2018.”

“Other achievements include enhanced production capacity, revenue diversification, reduced cost of production, the institutionalization of corporate governance, improved staff welfare and industrial harmony, among others.”

The Managing Direction pledged that The Mint would justify the renewed confidence reposed in it by the President, “as we are moving to the Next Level, and poised to boost national security and integrity, we will conserve scarce foreign exchange, improve revenue generation, create job opportunities, and boost acquisition/transfer of technology.”

Related posts

EFCC arraigns one Jayeola Ese and Meyeoghene for fraud


APC Convention:”How PDP Waited Endlessly For Phone Calls To Hear APC Breakup That Never Came” Keyamo


2019 JAMB results will be out this week-Board


PHOTO NEWS: Charly boy leads Islamic Movement Of Nigeria Group protest


The $500,000 bribe offered to Farouk Lawan was from DSS– Otedola


Development Commission Bill passage justice for Igbo–Oduah


Alleged Fake News: Army calls for the immediate arrest of Timi Frank


NASS Siege: Senator Saraki calls for a Judicial Panel of injury


Stephanie Linus explains why she had to cut her hair


Missing General Alkali was killed and buried in a shallow grave-Army


Leave a Comment