FG Sells Its Shares In Nigerian Printing, Minting Company To CBN For N12bn

The Federal Government has sold its shares in the Nigerian Security, Printing and Minting Company (NSPM) to the Central Bank Of Nigeria at the cost of N12.4 billion.

Vice President Yemi Osibanjo while speaking at the official signing ceremony at the presidential villa on Tuesday explained that the sale will allow private sector participation in the company.

He added that this will bring the cutting-edge technology and innovation required for the company.

Osinbajo also urged the Central Bank to ensure that Nigeria derives maximum benefit from the union.

The Chief Executive of NSPM, Joseph Ugbo, also at the event appealed to the Independent National Electoral Commission (INEC) to save resources by handing over the printing of all ballot papers and electoral materials for the 2019 elections to the company.

Ugbo stressed that the NSPM has the capacity to handle the task.

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