Ownership & Structure
The Federal Government of Nigeria owns majority shares in the Nigerian Security Printing and Minting PLC as reflected in the following ownership structure of the company.
The company has its headquarters in Abuja. It has two ultra-modern factory complexes in Abuja and Lagos with adequate capacity and technologically up-to-date machinery.The two broad divisions under which production is carried out are the Currency Division and the Security Documents Division.
The banknotes production facilities consist of the most up-to-date machines available in the industry. Our high-tech electronically controlled machines, sophisticated inks and highly skilled personnel all go to show that we keep pace with the most current trend in the industry world-wide. To support our operations and satisfy our clients’ individual demands, The MINT manufactures its offset and intaglio printing plates here in Nigeria while the sophisticated production machines and key raw materials are imported from diversified but highly reliable dealers overseas.
Security Documents Division
The production process in the security document division usually starts with the highly skilled and innovative graphic artists who are not only fully conversant with the latest techniques and materials to counteract forgery and adulteration, but are aware of the current capabilities of criminals. This knowledge combined with information on the latest international counterfeiting methods enable our designers to continually upgrade the security features and materials to ensure that our products are constantly ahead of potential counterfeiters. The company uses modern local letter-assembly facilities to add the require text matter to these designs.
The resultant designs are then produced on a variety of sheet-fed wet or dry to four colours at once with the capability of printing on both the front and the back of the sheet simultaneously.
The numbering of the documents which in itself is a complex operation, involving the need for absolute accuracy, is available in a variety of styles. Finishing is carried out in controlled conditions in line with the importance The MINT attaches to the security and integrity of its products.
As part of the expansion strategy, the need to source its raw materials locally as a logical first step. It accordingly embarked on the establishment of two companies in partnership with selected technical partners for the production of security inks and papers in Nigeria. The Tawada Ltd., Abuja, one of the two companies has since commenced production of high quality security inks.
The MINT, in 1988, also acquired a majority interest in Pacific Printers Nigeria Ltd. (PPNL) a company that has been engaged in commercial printing since 1935. The acquisition was aimed at complementing the capacity of the company in the production of non-security printed materials.
Security is the company’s principal asset and therefore, forms the cornerstone of its operations. In recognition of this overwhelming importance of security, the company has continually refined its security requirements for product features, procedures, skills, personnel training and orientation. Security features of banknotes, cheques, drafts and other security documents are periodically updated to impede counterfeiting and forgery. To further enhance the security facilities, the company has an in-house forgery detection unit.
The in-house administration of security of the premises and products is equally detailed, strict and total.
Both physical and Materials’ security of the premises is ensured through the use of the most up-to-date electronic surveillance equipment, supported by adequate and well-trained security staff.
Materials Security safeguards the security of all products through every stage of manufacture. Work is counted in and out of departments by a combination of machines and manual checking. Accountability is total. Waste generated during production is sent to a centralized section where it is kept under strict security condition until the order is completed and a balance struck.
Such waste is destroyed and representatives of government, banks and other customers are free to attend the destruction of waste materials if they so wish.