May 17, 2022



Managing Director of Nigerian Safety Printing and Minting Plc, Abbas Umar Masanawa, was amongst those that picked the N50 million All Progressives Congress governorship nomination and expression of curiosity varieties forward of the primaries for the 2023 elections, SaharaReporters reviews.

Masanawa is searching for to succeed Katsina State Governor, Aminu Bello Masari in 2023.

Along with printing the banknotes and the postal orders of Nigeria, the Nigerian Safety Printing and Minting Plc additionally prints some electoral supplies for the Unbiased Nationwide Electoral Fee.

The corporate, additionally known as The MINT, was established in 1963 by the Nigerian authorities in partnership with De La Rue of the UK and is underneath the Central Financial institution of Nigeria.

It started full operation in 1965, producing forex notes and cash for the CBN in addition to a variety of safety paperwork for the federal government, industrial banks, and blue-chip firms, amongst others.

Sources instructed SaharaReporters that Masanawa has refused to resign regardless of choosing up the APC governorship varieties.

“The man that mints the naira note has come out to say he is a member of the APC and also declared to run for governor. The Nigerian Security Printing and Minting Plc actually prints some of our election materials. He is from Katsina, he has refused to resign just like his boss at the Central Bank of Nigeria, Godwin Emefiele,” a supply instructed SaharaReporters.

This comes a number of days after the Unbiased Nationwide Electoral Fee mentioned the involvement of the CBN Governor, Emefiele in politics was threatening the 2023 elections.

INEC in an announcement by Rotimi Oyekanmi, the Chief Press Secretary to its Chairman, mentioned the fee may transfer poll papers from the CBN vaults.

The Chairman of the APC Ward 6 of the Ika South Native Authorities Space of Delta State, Mr. Nduka Erikpume, had on Sunday confirmed Emefiele’s membership of the ruling celebration, saying the CBN governor registered way back to February 2021.

Three assist teams had final week purportedly purchased APC N100m presidential nomination and expression of curiosity varieties for Emefiele.

Demanding his resignation, some civil society organisations together with BudgIt, CISLAC, CLP, Dataphyte, EiE Nigeria mentioned, “The CBN Act (2007) was written to guard the CBN from exterior political interference, not anticipating that the interference might be inner on the highest degree.

“If there may be any doubt concerning the implied and anticipated neutrality of the CBN, Nigerians must be reminded that the supplies for our elections are stored in CBN places of work throughout the nation and the Nigerian Safety Printing and Minting Plc (an company of the CBN) prints a few of our election supplies.

“Separation of powers is at the heart of any democracy, and it is for this reason that by our laws, the CBN Governor cannot be appointed or removed at will by the executive arm of government.”

Earlier within the yr, Auditor Common for the Federation in its 2019 report indicted the mint firm underneath Masanawa for N162 billion in monetary infractions.

In keeping with the AGF, the administration of the Nigerian government-owned firm couldn’t account for the mentioned quantity.

The report mentioned N91.1 billion, which appeared within the consolidated monetary statements of the minting firm for the yr ended thirty first December 2018 couldn’t be verified and reconciled with the Property Register because of the non-existence of a correct Non-Present Asset Inventories Ledger.

It additionally mentioned that Inventories of Uncooked Supplies amounting to N4,459,141,000.00 and Consumables amounting to N2,364,112,000.00 might additionally not be verified because of the non-existence of correct Stock Receipts & Points ledger.

The report mentioned, “In all, a total of N97,918,703,000.00 reported in the company’s financial statement could not be confirmed. The above anomalies could be attributed to weaknesses in the internal control system at the Nigerian Security Printing and Minting Plc.”

The AuGF report additionally mentioned the sum of N48,931,124,278.37 was overcharged towards the Assertion of Monetary Efficiency of the corporate for the years 2016 and 2019 with no verifiable proof to justify these bills as many of the figures contained within the Assertion of Monetary Efficiency had been completely different from the balances obtained from the Trial Stability.

The report mentioned that the minting firm spent about N14.43 billion on salaries and allowances for its workers between 2016 and 2019 with out the approval of the Nationwide Salaries, Revenue and Wages.

It additionally mentioned that in contravention of the Pension Reform Acts, the corporate paid salaries to its employees with out totally deducting solely 5% from the employees as towards the minimal 8% as stipulated within the legislation.

The report added that the corporate didn’t deduct about N432.812 million contributory pension from its employees throughout the interval.

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