The Board of Directors of the Nigerian Security Printing and Minting Company, NSPM, Plc, has sacked the Executive Management of the company and directed the current Acting Managing Director and two Executive Directors to retire with effect from today, Monday, September1.
A statement by the Company Secretary/Legal Adviser, Mr. Lawal Adamu, said: “The Board has approved the appointment of Mr. Joseph Ugbo as substantive Managing Director/Chief Executive Officer and Alhaji Umar Masanawa as Executive Director in charge of Finance and Strategy of the company.”
He said the changes were 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 needs of the country, but also those of West African sub-region.
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