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Buhari Okays Masanawa as MD of NSPMC

By Modupe Gbadeyanka

The appointment of Mr Abbas Umar Masanawa as the Managing Director of Nigeria Security Printing and Minting Company (NSPMC) has been approved by President Muhammadu Buhari.

This followed the recommendation by the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, in a memo dated August 28, 1018 to the President.

In the memo, Mr Emefiele confirmed that the tenure of the current Managing Director, Mr Joseph Ugboh, and Executive Director (Finance), Abbas Masanawa, had ended in August 2018, having taken over as executive management members of the company in 2014, turning around the firm from a loss making organisation to a profit making entity.

“Upon the takeover, the company returned to profitability with profit before taxes of N611 million, N4.6 billionn and N12.1 billion during financial years ended 2015, 2016 and 2017 respectively,’’ the CBN chief said in his memo.

He informed the President that based on that, it would be necessary to make someone from the team, Mr Masanawa, the new head of NSPMC.

Mr Emefiele also recommended the appointments of Mr Abubakar Sule Minjibir, Mr Chris Orewa and Mr Tunji Kazeem as Executive Directors of the company, which were also approved by President Buhari.

Mr Masanawa, a graduate of Ahmadu Bello University, Zaria, obtained his postgraduate degree in Business Administration from University of Maiduguri in 2000.

He worked briefly with FSB Bank before joining Zenith Bank where he worked for about 17 years.

He rose to the position of Deputy General Manager before his appointment in 2014 as the Special Assistant and Chief Liaison to the Governor of CBN in September 2014.

Mr Masanawa has undergone various courses on Leadership, Organisational Management, Strategic Thinking and Finance in Harvard Business School, USA; London Business School UK, SAID Business School Oxford, among others.

Mr Tunji Kazeem holds a B. A. Economics and Accounting from Rutgers University, New Jersey, USA and Masters Business Administration with specialisation in Investment Management from Columbia Business School, New York.

He has a deep knowledge of revenue model and balance sheet of financial institutions and inherent risks from his varied experience that spanned over two decades and had worked as a Senior Risk Manager with LMC Group, New York.

Mr Chris Orewa holds a Bachelor’s Degree in Engineering and a Masters in Business Administration and had worked as an industrial engineer in England as well as a Quality Assurance for Ford Motor in Canada and Auditor, Unilever Canada.

He has over 30 years’ experience at managerial level and his career cuts across many disciplines of quality assurance, production and engineering.

Minjibir obtained a B. SC. Degree in Chemistry from Bayero University, Kano, and acquired postgraduate degrees in Business Administration with emphasis on Financial Management.

He is a Harvard trained General Management Executive and a fellow of Institute of Management Consultant.

The Nigeria security printing and minting company is wholly owned subsidiary of the CBN with sole responsibility to produce Nigeria’s currency and a range of other important security documents.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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