On Wednesday, the Central Bank of Nigeria (CBN) replaced the senior management team of the Nigerian Security Printing and Minting Plc (NSPM). It designated Abubakar Sule Minjibr as the acting Managing Director.

The decision was communicated via an internal memo titled “House Notice No. 2083 – Executive Management Changes,” signed by Soji Ogungbesan, the General Manager of Corporate Services at NSPM.

Minjibr has assumed the role previously held by Ahmed Halilu, the former MD & CEO reportedly related to Aisha Buhari, the wife of former President Muhammad Buhari, who was appointed in 2022.

Dated July 10, 2024, the memo announced, “The board has opted to dissolve the current executive management team of NSPM with immediate effect and has sanctioned the formation of an interim executive management team as follows: Mr. Abubakar Sule Minjibr as Acting Managing Director; Mr. Mohammed Mustapha as GM, Finance and Strategy; Mr. Adesoji Ogungbesan as GM, Corporate Services.”

“The management team reaffirms its commitment to the welfare of NSPM staff, along with the strategic initiatives and organizational transformations outlined by the board. Employees are encouraged to collaborate with the new management team to achieve the board’s strategic objectives for the company.”

Those relieved of their positions alongside Halilu include Ado Danjuma, who served as ED Corporate Services; Tunji Kazeem, ED Security Documents; Chris Orewa, ED Lagos factory; and Victoria Lucky Irabor, Company Secretary and Legal Adviser.

BusinessDay recalled that President Buhari’s appointment of his brother-in-law to lead the Mint had sparked controversy, with Gravitas Group, an international advocacy organization, strongly criticizing it as nepotism.

“The appointment of the President’s brother-in-law to oversee the printing of sensitive materials in the country was alarming, leading the group to describe the situation as bringing the country’s Mint under his influence,” noted Gravitas Group in a statement at the time