Shocking Revelation: Senate raises alarm over Nigeria’s minting company's unauthorised N14bn salary raise

  • The Senate uncovered that N14 billion was used to pay salary raises for workers in three years
  • This was done without permission from the appropriate Commissions that were supposed to approve it
  • It was established that without first receiving clearance from the NSIWC, the action was wrong

The Senate has queried the Board of Directors, Nigerian Security Printing and Minting Company, NSPMC Plc, for raising all its employees’ pay by N14 billion without getting permission from the National Salaries Wages, Incomes and Wages Commission.

The matter was brought to the attention of the Senate Public Accounts Committee Chairman, Senator Ahmed Wadada, at a meeting in the Red Chamber in Abuja.