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The Nigeria Security Printing Company (NSPMC) now has a new management. This was announced yesterday by the Board of Directors, which ousted the management of Acting Managing Director/Chief Executive Ahmed Nuhu Bamalli and executive directors Mohammed G. Umar and Ibrahim M. Babayo.
“The Board of Directors of the NSPM Plc has dissolved the executive management of the company and directed the current acting managing director and two executive directors to retire with effect from Monday, September 1,” Company Secretary/Legal Adviser Lawal Adamu said in a statement issued late yesterday in Abuja, adding:
“Consequently, the board has approved the appointment of Mr. Joseph Ugbo as substantive managing director/chief executive officer and Alhaji Abbas Masanawa as executive director in charge of finance and strategy of the company.”
According to the statement made available by the Central Bank of Nigeria (CBN), which supervises NSPM, the changes “are in line with the new strategic direction of the company aimed at repositioning it as an efficient and profit oriented entity that would serve not only as the banknote and security needs of the country but also those of the West African sub-region.”
It described Ugbo as an MBA holder with 29 years engineering and managerial experience while Masanawa has an MBA in Finance and 17 years cognate experience in banking.
•Photo shows NSPM Board member and CBN Deputy Governor, Dr. Kingsley C. Moghalu.
