Nigeria's apex bank, the Central Bank of Nigeria (CBN) has announced the appointment of Abubakar Sule Minjibr as the new acting Managing Director of the Nigerian Security Printing and Minting Plc (NSPM).

He takes the place of Ahmed Halilu, the company’s former MD & CEO, who is known to be an elder brother of Aisha Buhari, the wife of former President Muhammadu Buhari, and who was appointed by him in 2022.

The appointment was made known in an internal memo dated July 10, 2024, after the order of President Bola Tinubu.

The memo, which was signed by Soji Ogungbesan, General Manager of Corporate Services at NSPM, stated that the board has approved the decision to dissolve the current executive team and install interim management.

The memo dated 10th July 2024 partly read: “The board has announced the immediate dissolution of the present executive management team of the NSPM, and has approved the immediate constitution of an interim executive management team, as follows: Mr Abubaka Sule Minjibir Ag, Managing Director; Mr Muhammed Mustapha Gm, Finance and Strategy; Mr.Adesoju Ogungbesan Gm, Corporate Service.

“The management team assures all staff of its commitment to the welfare of the staff of the NSPM, the strategic initiative and organization transformation developed by the board.

“Staff members are encouraged to cooperate with the new management team to achieve the board’s strategic vision for the company.”

Other senior executives leaving NSPM are Halilu Ado Danjuma, who served as ED Corporate Services; Tunji Kazeem, ED Security Documents; Chris Orewa, ED of the Lagos factory; and Victoria Lucky Irabor, Company Secretary and Legal Adviser.