The Senate said it has uncovered how the Board of Directors of Nigerian Security Printing and Minting Company Plc allegedly paid a N14 billion salary increase to its staff members without the approval of the National Salaries, Incomes, and Wages Commission.
The chairman of the Senate Public Accounts Committee, Senator Ahmed Wadada, disclosed this during a session in the Senate in Abuja when the management of NSPMC appeared before the committee concerning the 2019 report of the Auditor-General of the Federation. The report of the Auditor-General revealed that between 2016 and 2019, NSPMC’s Board of Directors approved N14 billion for salaries and allowances without the approval of the salaries and wages regulatory body.
In his written submission, however, the Managing Director of NSPMC, Ahmed Halilu, claimed that the commission did not need any approval from the salaries and wages regulatory body because it was registered under the Companies and Allied Matters Act. However, Halilu later admitted before the Senate Committee on Public Accounts that it was wrong not to seek approval from the NSIWC before implementing the new salary and allowance increase for the company.
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