Workers and some stakeholders of the Nigerian Security Printing and Minting Company (NSPM) have lauded the recent appointments by the Board of Directors of the company which they said were to bring the needed fresh ideas required to refocus the organisation for sustainability and profitability.
Some of the workers, who spoke on the condition of anonymity, expressed optimism and excitement about the company’s new direction and the strategic initiatives being implemented by the new leadership team to turn NSPM around and prepare it for sustainable growth.
It was gathered that the new leadership team’s drive to modernise the company’s operations, improve organisational culture and efficiency, were gaining traction and achieving desired outcomes “The team is made up of accomplished professionals with a blend of private and public sector experience across varying industries,” a senior staff of the company said.
According to him, “The new leadership has focused on laying the foundation that will enable the company to become a world-class printing and digital solutions company and turnaround initiatives have been designed to ensure stable and timely operational output, enhance overall efficiency and improve the company’s working capital position.
“The team is implementing initiatives aimed at professionalizing the workforce and building an organizational culture that rewards efficiency and merit, while also reducing casualisation.”
They said work schedules have been standardised in such a way to fit operational requirements and improve work and life balance, while staff training has been centralised to ensure programs undertaken address identified skill gaps and are future focused.
The manual and paper-based annual appraisal exercise, it was gathered, has been fully automated and a standard performance management cycle has been established. These initiatives they said would improve the overall performance of staff of the company and restore and retain the confidence of stakeholders in the company as a reliable and valued strategic asset.
Some stakeholders of interest said the team has also focused on extracting value from the significant investments the company has made in information technology assets and accelerating the company’s digital transformation through the automation and optimization of mainly manual processes. Improving organizational efficiency and cost reduction through the prioritization of core activities and reduction of non-value adding tasks have also been key priorities.
The Acting Managing Director of the company, Abubakar Sule Minjibir, is a consummate leader with vast experience in currency printing, security inks production and project management. His over three decades of relevant experience make him the ideal choice to lead the company. Prior to this appointment as the Acting Managing Director he was Executive Director of Abuja Operations at NSPM Plc.
Adesoji Ogungbesan, who is the Ag. Executive Director, Corporate Services is a dynamic professional with over 25 years of extensive international multinational experience in financial management, system or process implementation, supply chain management, internal control and audit across the oil & gas, manufacturing, financial services industries.
He is a Fellow of the Association of Certified Chartered Accountants (ACCA), member of the Chartered Institute of Taxation, and has an MSc in Accountancy from the University of London. He is responsible for workforce planning, digital transformation, supply chain optimisation and shared services.
Muhammed Mustapha, Ag. Executive Director, Finance & Strategy is a professional accountant and business partner with over three decades cognate experience in financial advisory & audit services, and the management consulting industry. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and joined NSPM in February 2024 as Chief Finance Officer. He is responsible for financial management, strategy and business development.
There is no doubt that the new team is on course to reposition the company as the premier print works and one of the best digital solutions companies in the country regardless of the growing pains being experienced by the economy.
