FG Sells 21% Stake In Nigerian Security, Printing And Minting Company

The Federal Government has sold twenty one percent of its shares in the Nigerian security, printing and minting company to the Central Bank of Nigeria (CBN).

Speaking after the signing ceremony, Vice President Yemi Osinbajo who is the chairman national council on privatization, noted that the ceremony underscores the importance government attaches to its privatization.

The purpose of the strategic investment is for CBN to manage, restructure and restore the company to profitability within a period of five years.

Highlight of the event was the signing ceremony between the Bureau of Public Enterprises (BPE) and the Central Bank of Nigeria (CBN).

The transaction is expected to contribute a net sum of over seventeen billion naira to the federal government treasury.