FG transfers 21% shares in the mint to CBN

The Federal Government has transferred its 21 per cent shares in the Nigerian Security Printing and Minting Company to the Central Bank of Nigeria. Vice-President Yemi Osinbajo, who is the Chairman of the National Council on Privatisation, on Tuesday witnessed the signing of the transfer instrument, which was co-signed by the CBN Governor, Godwin Emefiele, and the Director General of the Bureau of Public Enterprises, Alex Okoh. The signing took place at the Presidential Villa in Abuja. The 21 per cent shares transferred to the CBN translates to 12.69 billion shares in the minting firm. Osinbajo, who noted that over 140 publicly-owned companies had been privatised in the past 30 years, said the Federal Government divested its 21 per cent public interest in the NSPMC to give room for synergy that could come from the public and private sectors coming together.According to him the Federal Government’s divestment of its interests in the NSPMC would help to bring experts on board to run the company.
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