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Tag: NSPMC

  • 200 Mint workers opt to resign on voluntary exit incentives offer

    200 Mint workers opt to resign on voluntary exit incentives offer

    No fewer than 200 employees of the Nigeria Security Printing and Minting Company (NSPMC) have opted to resign voluntarily in order to enjoy financial incentives dangled before them by the firm.

    The resignations happened within one week after the company issued a memo asking all staff members interested in the incentives to submit their letters before yesterday.

    NSPMC ‘s Acting Executive Director, Corporate Services, Soji Ogungbesan, signed the memo titled “Voluntary exit Incentives (VEI) for all staff.”  

    The incentives, according to Ogungbesan,   are  ‘’an upfront ‘ex-gratia’ payment equivalent to one year’s total emoluments and  payment of final entitlement computed in line with company policy.’’

      An upfront ‘ex-gratia’ payment equivalent to one year’s total emoluments means an employee who exits voluntarily will receive a special, one-time payment upfront. The amount will be the same as what he earns in a whole year as total salary and benefits.

    ‘Ex-gratia’ means “out of kindness.” 

    “Payment of final entitlement computed in line with company policy” refers to any other payments such an employee is owed according to the company’s rules. This could include unused vacation time, severance allowance, or other benefits he is entitled. 

    The exact amount will be calculated based on the company’s specific policies.

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    A top  official of the company, who asked not to be confirmed  to The Nation yesterday that “almost 200 staff members have already dropped their resignation letters.”

    The source explained that the move, which mirrors a similar strategy recently implemented by the Central Bank of Nigeria (CBN), is designed to manage  ‘’overstaffing, particularly in the administrative department of the firm, while encouraging those interested in pursuing other opportunities to resign.

    According to him, NSPMC currently has a workforce of 971 in its Abuja and Lagos factories. He said that ‘’production staffers, considered to be the main workforce, are only 114 in  Abuja.”

    “Most of them in the administrative department are not ready to work in the factory, whereas production staff are inadequate. Administrative staffers are more than operations staff — this is not normal,’’ he said. 

    To illustrate the scale of imbalance, he compared NSPMC to its Kenyan counterpart which has   13 administrative staff and  400 operational (factory)  staff members.

  • NIMASA, NSPMC partner on new seafarers’medic certification documents

    The Nigerian Maritime Administration and Safety Agency (NIMASA) has introduced new Seafarer’s Medical Certification Documents in compliance with requirements of the Maritime Labour Convention (MLC) 2006 and Standards of Training, Certification and Watchkeeping (STCW) 1998 as amended.

    Presenting the documents to stakeholders in Lagos, its Acting Director-General (DG), Mr. Haruna Baba Jauro, said better compliance is one of the key areas in which the agency plays its role of domesticating International Maritime Laws and Conventions that help to keep maritime activities and the marine environment safe, its Head, Public Relations, Hajia Lami Tumaka explained in a statement at the weekend.

    Represented by Director, Maritime Safety and Seafarers Standards Department, Vincent Udoye, an engineer,  Jauro said the new documents on certification are more secure as they are printed with better security features in collaboration with the Nigerian Security Printing and Minting Cooperation (NSPMC) to ensure that Medical Certificates of fitness for seafarers in Nigeria are authentic and in line with international standards.

    Accordingly, the DG further assured all stakeholders in the sector “that NIMASA as an Agency of the government will continue to strive to meet the needs of the sector through better administration of safety standards in all facets of maritime operations”.

    In compliance with other international maritime laws to which Nigeria is a party, notably the Safety of Life at Sea (SOLAS ’74) and the Search and Rescue (SAR) 1978 Conventions, among others, the Agency has also implemented measures, such as procurement of patrol boats, ambulances and priority operational vehicles in addition to facilitating capacity building of human resources towards the successful implementation of these conventions.

  • N750m contract scam: Ex-Mint boss kicks against extradition

    N750m contract scam: Ex-Mint boss kicks against extradition

    Aformer Managing Director of Nigeria Security Minting and Printing Company (NSPMC),Emmanuel Ehidiamhen Okoyomon yesterday opposed application for his extraction to the United Kingdom (U.K.) by the office of Attorney-General of the Federation.

    The application, which was filed before Justice E.S Chukwu of the Federal High Court, Abuja, could not go on because of the preliminary objection raised by the ex-Mint boss.

    But the judge ordered that the accused person be remanded in  Economic and Financial Crimes Commission (EFCC) custody.

    Okoyomon’s extradition is being sought by the UK government over his alleged role in the bribery scandal involving officials of the Central Bank of Nigeria (CBN), the Nigeria Security Minting and Printing Company (NSPMC) and Securency International Pty of Australia between 2006 and 2008.

    According to a statement by the Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, the court has adjourned the case to October 16 for the hearing of the extradition application and preliminary objection.

    The statement read: “When the case was called for mention today, the defence counsel, Alex Iziyon (SAN) told the court that he had filed a preliminary objection challenging the jurisdiction of the court to hear and decide the matter”.

    Iziyon argued that the court lacked jurisdiction to entertain the matter saying, “there is no extradition treaty between Nigeria and the UK”.

    “We want to be shown where this is in the law. What we have is only protocol not extradition treaty,” he added.

    Responding, the prosecuting counsel, M.S Hassan told the court that he had not been served with the application.

    He urged the court to remand the accused in prison custody, pending the hearing and determination of the application.

    The statement added: “Justice Chukwu, after listening to the submission of both counsel, ordered the defence to get the prosecution duly served with all necessary processes while EFCC should take custody of the accused till the next adjourned date.

    The case has been adjourned to Thursday, October 16,  for hearing.

    The late President Umaru Yar‘Adua had in company with the then CBN Governor, Prof. Charles Soludo launched the new N5, N10 and N50 polymer notes  on September 30, 2009 at the Presidential Villa.

    The circulation of the new bank notes coincided with Nigeria’s 49th Independence Anniversary day celebration.

    But there were allegations of shady deal between some CBN officials and Securency International Pty of Australian.

    The Australian Federal Police (AFP) had already probed the alleged N750million bribe offered by Securency to win the contract.

    Although the contract for the printing of N5, N10, N50 notes were awarded in 2009, the bribery scandal involving Securency was perpetrated in 2006.

  • Still on INEC’s unending controversies

    SIR: As the nation moves closer to the election year, there are two contending issues that are worth discussing in view of their volatile nature and the misgivings that have already trailed them. We would recall that at the formal launching of the National Electronic Identity Card recently, President Goodluck Jonathan directed that the printing of ballot papers for next year’s general elections be handled by the Nigerian Security Printing and Minting Company (NSPMC). The Independent National Electoral Commission (INEC) was to tap into the expertise of the Mint in the production of the sensitive electoral materials. This presidential order later propelled the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to visit the INEC chairman, Professor Attahiru Jega. At the end, the two gentlemen struck a deal.

    The NSPMC, which is responsible for the printing of most of the nation’s currency denominations, bank drafts, cheques, stamps, treasury bills and other security documents, is a subsidiary of the CBN. In other words, the federal government owns majority shares in the company while the CBN governor is also the chairman of its  governing board.

    While it may be argued that giving the Mint the N9 billion printing job for elections materials would help to enhance its production capacity, create employment opportunities, prevent capital flight and increase foreign exchange earnings, it is however dangerous to use a sensitive national assignment such as the general election, for experimentation and trial.

    Nigerians may not forget so easily that in 2012, about N2 billion was reported to have been stolen from the Mint – a company also reputed to have suffered operational losses – as a result of operational deficiencies.

    Can somebody tell us why the same commission should still be the preferred producer of the sensitive materials despite its low rating? INEC should be made to realise that this attempt could erode its powers as well as the credibility of the entire electoral process.

    INEC should reserve the discretion to carry out its statutory functions bearing in mind that the essence of any election under democracy is to create a secure, level playing field for eligible voters and candidates. President Jonathan, as an interested party has no constitutional or moral right to control INEC around any aspect of the electoral process.

    Again, INEC recently announced that in its compliance with the 2010 Electoral Act, it had created additional 30,000 polling units across the country to ensure that no polling unit has more than 500 voters.

    As laudable as the initiative appears to be, there are allegations of lopsidedness from many people and socio-political groups against the allocation of the polling units in favour of the North as the zone has clearly got over 70 per cent out of the new polling units. That is where the INEC chairman should ensure that genuine observations, issues and complaints raised are addressed without further delay. If truly there are structural, administrative and institutional arrangements that appear to have favoured candidates from a particular section of the country above the others, the commission should look inward and rectify them before the polls. For the sensitive nature of its duties, INEC should guard against partisanship and should be seen as such in the allocation of the polling units. It should not be reluctant to do the right thing without any iota of fear or intimidation. This should be done as quickly as possible. Beyond the printing of electoral materials and the creation of new polling units, there is need for continuous enlightenment, voter education and honesty of purpose in order to have free, fair and credible elections in the country.

     

    •  Adewale Kupoluyi

    Federal University of Agriculture, Abeokuta

  • NSPMC may print election materials, says Jonathan

    NSPMC may print election materials, says Jonathan

    President Goodluck Jonathan has hinted that the Nigeria Security Printing and Minting Company (NSPMC) will print the security materials for future elections.

    The President spoke yesterday in Abuja at the launch of the Issuance Process for the National Electronic Identity Card (e-ID Card).

    Jonathan said he had instructed Central Bank of Nigeria (CBN) governor to reform and restructure the NSPMC.

    He said: “I told him (CBN governor) that the Nigerian Security Printing and Minting Company must be reformed. The board must look into its management and get choice global players, who are into this business and partner with them.

    “There is no way we are doing local government election, electing House of Assembly members, electing governors in Oyo, Ekiti, Adamawa states, that all we will produce will be done outside this country. Other countries produce their needs. We claim to be a giant, a giant that will just send everything out. We empower others (but) we don’t create jobs for our people.

    “So, the Mint must be restructured for the Independent National Electoral Commission (INEC) and other bodies. For the Federal Executive Council (FEC), we cannot give approval for any printing, whether passport or anything else, except the Mint says they cannot produce it. As long as the Mint can produce it, we must produce everything in this country.”

    The President cautioned that “those who will use these services must have their credibility to protect. That means the Mint must be in a position to tell the INEC Chairman that whatever I give you, the security devices are okay and you will get the result you want. We must change our institutions. We must strengthen to move to the direction we want.”

  • Financial council to quiz Sanusi, Alade, Lemo, Moghalu, Akingbola, 10 others

    Financial council to quiz Sanusi, Alade, Lemo, Moghalu, Akingbola, 10 others

    The Financial Reporting Council of Nigeria (FRC) will tomorrow and Thursday question the suspended Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi; CBN Acting Governor, Dr. Sarah Alade; former CBN Deputy Governor, Operations, Tunde Lemo; CBN Deputy Governor, Operations, Dr. Kingsley Moghalu; and former Managing Director/CEO of the defunct Intercontinental Bank Plc, Mr. Erastus Akingbola.

    Also to be questioned are the Managing Director of the Bank of Industry (BoI), Ms Evelyn Oputu; CBN Deputy Governor, Corporate Services, Alhaji Suleiman Barau; Mr. Babatunde Dayo; Mr. Gabriel Okpeh and Mr. Ezekiel Ejedele.

    Also to appear before the FRC hearing panel are the former Chief Executive Officer of the Nigerian Security, Printing and Minting Company (NSPMC), Mr. Ehi’ E Okoyomon; Alhaji Ahmed Barmali; Mr. Igho Dafinone; the immediate past Chief Executive Officer of Access Bank, Mr. Aigboje Aig-Imokhuede; and his successor, Mr. Herbert Wigwe.

    While Sanusi, Aalde, Lemo and six others are expected to appear at the interrogation to be held at the FRC head office in Lagos on Thursday at 11 am, Akingbola, Aig-Imoukuede, Wigwe and three others are to appear at the same time tomorrow.

    The FRC said in a newspaper advert published yesterday that it is investigating the activities of the CBN for financial years ended December 31, 2011 and 2012. The investigation, the council said, includes related matters arising from transactions and events, which impacted on the 2011 and 2012 from earlier years and have implications for later periods.

    “We wish to inform the under-listed persons that the FRC is investigating the activities of the CBN for financial years ended December 31, 2011 and 2012. This investigation includes related matters arising from transactions and events, which impacted on 2011 and 2012 from earlier years and have implications for later periods,” the report said.

    The FRC management said letters had been sent to the concerned persons before the current invitation to hearing.

    Sanusi was suspended on February 20 by President Goodluck Jonathan for alleged financial recklessness. That was after he said the Nigerian National Petroleum Corporation (NNPC) had failed to remit $20 billion oil revenue to the Federation Account. He has denied any wrongdoing.

     

  • Alleged N750m Polymer contract scam: EFCC quizzes ex-Mint MD

    Alleged N750m Polymer contract scam: EFCC quizzes ex-Mint MD

    The Economic and Financial Crimes Commission (EFCC) has quizzed a former managing director of the Nigerian Security Printing and Minting Company (NSPMC), Ehi Okomoyon over alleged N750million Polymer notes contract.

    Okomoyon, who was arrested on Sunday night, was released yesterday after undergoing interrogation.

    It was learnt that the arrest of Okomoyon followed reports on the alleged scam sent to the EFCC by the Australian police.

    Okomoyon recently resigned his appointment on the heels of the disappearance of millions of N1000 currency notes from the company.

    He was quizzed by investigators at the EFCC Abuja office on relation to the Australian polymer banknotes bribery scam.

    Nigerian officials allegedly received bribes for Securency, a note-printing firm partly owned by the Reserve Bank of Australia, which handled the polymer banknotes contract.

    A former Governor of the Central Bank of Nigeria, Professor Chukwuma Soludo, was quizzed by the EFCC in January in connection with the probe.

    A source said yesterday that the bribe sum could be more than N750million, going by the depth of the investigation conducted by the Australian police.

    “It is left to us to conduct the Nigerian dimension of the scam,” he added.

    “What I can tell you is that since January, the EFCC has made some breakthrough in its probe,” the source said.

    The Head of Media and Publicity of the EFCC, Mr.Wilson Uwujaren, who confirmed Okomoyon’s arrest, did not give details.

    But a Mint source said: “I think the invitation of the former MD of Mint by the EFCC is a fact-finding one because the contract was purely a CBN affair.

    “It is a good development that the EFCC is finally trying to get to the root of the contract.

    “If you are talking of any bribery, it must have been perpetrated during the initial award of contract for the supply of polymer substrates to Securency in 2006 for the N20 banknote.

    “The same template used for the N20 banknote was also applied to N5, N10, and N50 – without any fresh bid. It is curious that the CBN officials chose to adopt the same template in November 2008 without a fresh bid. The contracts for the printing of 1.915billion of N5, N10, and N50 notes were only awarded in April this year.

    “So, the approach adopted by the CBN was suggestive of a conspiracy or an understanding. The bribery scandal predated the award of the contracts in April, this year.

    “I don’t think the decision to print N5, N10, and N50 notes in polymer was the key thing. The bribery must have been done in 2006. The terms of the deal were only extended to the contracts for N5, N10, and N50 notes.

    “To show you that a cabal was at work, not every party was involved in the evaluation process.

    “It was a sealed deal because the CBN dictates who prints abroad, what substrates to print on as well as the quantity. The CBN even decides the companies that will clear and do the freight.”

    The late President Umaru Yar‘Adua, in the company of the then CBN governor, launched the N5, N10 and N50 polymer notes on September 30, 2009 at the Presidential Villa.

    The circulation of the new bank notes coincided with Nigeria’s 49th Independence Anniversary celebration.

    There have been allegations of shady deals between some CBN officials and Securency International Pty of Australian.

    Although the contract for the printing of N5, N10, N50 notes were awarded in April 2009, the bribery scandal involving Securency occurred in 2006.

    The probe conducted by AFP gave clues which the EFCC is examming.

    According to a document, the CBN tender results for banknotes in 2006 showed how Securency, bid for N20 polymer note at Euro 73.475 per 1000 notes, including freight charge.

    But it was learnt that the cost was later reduced to Euro 59.88 by the CBN when the N20 polymer contract was awarded in 2006.

    Others involved in the bid are: Global Securency (Australia); Gieesecke and Devrient (G &D) of Germany ; De La Rue (the UK ); FC Oberther ( France ) and Nigerian Security Printing and Minting Company (NSPMC).