Tinubu Removes Buhari’s In-Law, 4 Other Top Officials from Nigeria’s Security Printing Company

President Bola Tinubu has ordered the immediate removal of Ahmed Halilu, Managing Director of the Nigerian Security Printing and Minting Plc (NSPM), along with four other top executives. This decision as reported marks a notable change within the company’s leadership.

Ahmed Halilu, appointed in September 2022 by former President Muhammadu Buhari, is the brother of former First Lady Aisha Buhari. The removal directive also affects Executive Director of Corporate Services Ado Danjuma, Executive Director of Operations (Lagos Factory) Chris Orewa, Executive Director of Security Documents Tunji Kazeem, and Company Secretary Victoria Irabor. Victoria Irabor is married to retired General Lucky Irabor, a former Chief of Defence Staff.

In the interim, Abubakar Minjibir, Executive Director of Operations (Abuja Factory), will act as Managing Director. The reasons for sparing Mr. Minjibir from the removal remain unclear.

The changes follow the submission of a report by special investigator Jim Obazee, appointed by President Tinubu to probe the Central Bank of Nigeria’s (CBN) affairs under the Buhari administration. Mr. Obazee’s report highlighted NSPM’s involvement in the controversial currency redesign policy led by former CBN Governor Godwin Emefiele, which disrupted individuals and businesses nationwide.

The report detailed that Mr. Emefiele had instructed Mr. Halilu to redesign and reconfigure old naira notes, despite Mr. Halilu’s warnings about the task’s complexity and time requirements. Consequently, Mr. Emefiele contracted UK-based company De La Rue to handle the redesign for GBP 205,000. After the redesign, NSPM was tasked with printing the new currency but failed to meet demands, resulting in a severe currency shortage.

The NSPM, established in 1963, is responsible for printing and minting Nigeria’s currency notes and coins, producing secure documents like passports and stamps, and ensuring financial stability through advanced security features to prevent counterfeiting.

The CBN’s spokesperson, Sidi Hakama, declined to comment on the matter, but a senior central bank official confirmed the immediate removal of the affected NSPM officials.