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Economy - News - Special News - Thematterspress - July 12, 2019

MINT takes over printing of critical documents



President Muhammadu Buhari has directed Nigerian Security Printing and Minting Company (NSPMC) to take over the production and personalisation of all E-passports and related documentation in Nigeria.

Popularly known as The Mint, the company was established in 1963 with the objective of producing the nation’s currency notes and coins for the Central Bank of Nigeria as well as security documents for Ministries, Departments and Agencies of government, banks and other blue chip companies.

President’s spokesman, Mr Femi Adesina, confirmed the development in Abuja on Thursday.

He revealed that with the new directive from the President, all existing memoranda of understanding and contracts on printing by other institutions/ companies will not be renewed.

The Mint is the largest banknote and security documents specialist printing company in West Africa.

However, its performance was rapidly dwindling in terms of both currency production and security documents prior to 2014.

Under the chairmanship of the Central Bank Governor, Mr Godwin Emefiele, new targets were set.

The Managing Director of The Mint, Mr Abbas Umar Masanawa, recounted some of the achievements including zero importation of currency since 2014.

Masanawa further recounted other achievements to include enhanced production capacity, revenue diversification, reduced cost of production, institutionalization of corporate governance, improved staff welfare and industrial harmony, among others.

The Managing Director pledged that The Mint would justify the renewed confidence reposed in it by the President.

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