Ogungbesan Threatens Legal Action Over Reports on Exit from Security Mint

* Says board played no role in resignation

Sunday Aborisade in Abuja

Former Acting Executive Director of the Nigerian Security Printing and Minting Company (NSPMC), Mr. Adesoji Ogungbesan, has threatened legal action against an online publication over reports concerning the circumstances surrounding his resignation from the organisation.

Ogungbesan, who recently left the government-owned security printing firm, said he decided to publicly clarify issues relating to his appointment, tenure and exit following what he described as inaccurate reports about his role at the company.

In a statement titled ‘From Private to Public Sector and Back Again,’ made available to journalists in Abuja, he said the document was intended to outline his experience in public service and provide his account of events during his time at the organisation.

He explained that he joined the company in February 2024 after leaving the private sector, following an approach to contribute to ongoing reforms at the security printing firm.

According to him, his recruitment followed a formal interview process that involved senior officials of the Central Bank of Nigeria (CBN) and members of the company’s management team.

Ogungbesan stated that he was initially appointed as General Manager in charge of Management Services and was later named Acting Executive Director, Corporate Services.

He said that shortly after assuming office, he conducted a diagnostic review of the organisation and worked with consulting firm PwC on an organisational review approved by the company’s board.

The former executive director noted that the review process focused on strengthening operational processes, introducing measurable performance systems and improving administrative efficiency across departments.

Ogungbesan outlined several initiatives he said were introduced during his tenure, including reforms aimed at improving cost management, operational coordination and digitalisation of internal processes.

Among the measures he highlighted were changes in work scheduling and operational procedures which, according to him, significantly reduced overtime expenses.

He also said the rationalisation of data centre licences led to notable savings for the organisation, while the automation of performance management systems improved efficiency in internal operations.

According to him, other initiatives implemented during the period included the deployment of Sage Enterprise Resource Planning (ERP) software across supply chain and finance operations, as well as adjustments to some service delivery arrangements within the company.

He also addressed a report regarding a pest control contract at the company’s Lagos facility, stating that the approved contract covered fumigation and pest management services for designated office and factory areas.

Ogungbesan said the contract was implemented within the approved budgetary framework of the organisation.

The former acting executive director further stated that he resigned from his position in early February 2026 following a directive conveyed by the company’s acting managing director.

He said the communication indicated that a management restructuring exercise was being undertaken within the organisation.

According to him, his resignation was subsequently submitted and formally acknowledged by the company.

Ogungbesan maintained that the company’s board did not directly request his resignation and reiterated that he had served in accordance with established procedures during his time at the organisation.

Reflecting on his experience in public service, he said the transition from the private sector to government institutions presented unique administrative and operational challenges.

He noted that institutional reforms often require sustained support and continuity to achieve their intended objectives.

Despite the circumstances surrounding his departure, Ogungbesan said he remained appreciative of the opportunity to serve in the organisation and expressed hope that the initiatives introduced during his tenure would contribute to future improvements.

He also extended his best wishes to former colleagues at the company and expressed optimism about the institution’s long-term prospects.

Ogungbesan, however, stated that he would seek legal redress regarding publications he believes misrepresented his professional record, saying the move was necessary to protect his reputation and clarify the facts surrounding his tenure at the organisation.

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