Mint Scandal: N2.1 Billion Worth Of N1,000 Notes Missing

The CBN had to set up its own audit team, whose findings were put to the board yesterday, and a unanimous vote affirmed that Okoyomon should continue on indefinite suspension.
Part of the CBN audit team’s investigation is to unravel why the management of the Mint company has consistently refused to place Closed-Circuit Television (CCTV) in its Abuja and Lagos factories, and why other security measures were deliberately set aside.

The audit team had, however, established that the theft of printed bank notes could be traced to security lapses and security personnel who take custody of newly printed bank notes, and when there were shortages, they were never reprimanded. The entire security department is said to be directly under the supervision of MD.

LEADERSHIP also learnt that this would be the second time that Okoyomon would be going on suspension as he suffered a similar experience in 2007 for three months when Charles Soludo, who had appointed him in the first place, was CBN governor.
After seven and a half years on the job, Okoyomon has been the longest serving MD of the NSPMC, with previous chief executives spending an average of five years in office
culled: Leadership