INTERNAL SQUABBLES, DECLINING PATRONAGE TAKE TOLL ON NSPMC

INTERNAL SQUABBLES, DECLINING PATRONAGE TAKE TOLL ON NSPMC

By James EmejoNSPMC

There are strong indications that the Nigerian Security Printing and Minting Company (NSPMC) Plc, popularly known as ‘the Mint’ may record about N1 billion loss from its operations in 2013.

A credible source from the Mint’s finance department said the company’s management led by the acting Managing Director, Alhaji Ahmed Nuhu Bamali, appeared to have been overwhelmed by some challenges including a succession dispute among the company’s directors.

The situation is worsened by the often lack of patronage from local players particularly the Central Bank of Nigeria (CBN), which is considered the mint’s only customer, while other firms have refused awarding printing contracts to the company.

 

Read more here.

About The Author

Osigweh Lilian Oluchi is a graduate of the University of Lagos where she obtained a B.A (Hons) in English, Masters in Public and International affairs (MPIA). Currently works with 1stnews as a Database Manager / Writer. [email protected]

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