SSS arrests NIRSAL boss, Abbas Masanawa, for allegedly conspiring with Emefiele to loot printing and minting corporation

The State Security Service (SSS) has arrested Abbas Umar Masanawa, the chief executive officer of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, NIRSAL, for his alleged role in the ongoing corr¥ption probe of suspended Central Bank of Nigeria (CBN) chief, Godwin Emefiele,

According to Peoples Gazette, informed SSS insiders said Mr Masanawa was taken into custody three weeks ago and has remained there while their investigation continued. It was not immediately clear whether or not he has hired lawyers to represent him in the case. A spokesman for NIRSAL did not immediately return a request for comments.

Mr Masanawa’s arrest stemmed from his role as the managing director of Nigerian Security Printing and Minting Company (NSPMC). He resigned from NSPMC after newsmen reported that he was seeking a governorship election as a member of the ruling All Progressives Congress while still in office as the nation’s printing and minting boss.

The NSPMC is a subsidiary of the Central Bank of Nigeria (CBN) responsible for printing and minting the nation’s currency notes, coins and high-level security documents.
“He was conspiring with Godwin Emefiele to loot the printing and minting agency,” a source familiar with the arrest said. “We are still tracing billions they stole.”

It was not immediately clear why President Bola Tinubu approved the detention of Mr Masanawa without first suspending him from office, especially since his detention for the past three weeks has crippled NIRSAL’s ability to operate. [continue reading on next slid