Abasifreke Effiong
Staff of the Nigerian Investment Promotion Commission, NIPC, have called for the immediate removal of the Executive Secretary and Chief Executive Officer of the commission, Mrs Yewande Sadiku.
Staff blocked the main gate into the NIPC building on Aguiyi Ironsi Street, Maitama District, Abuja, on Thursday and displayed placards calling for the sack of Mrs Sadiku.
The NIPC was established by Nigerian Investment Promotion Act Chapter N117 Laws of the Federation of Nigeria 2004 to encourage, promote and co-ordinate investments in the Nigerian economy.
READ : Wike sacks Permanent Secretary for flouting COVID-19 guidelines
The protesting staff alleged that the Executive Secretary of the commission, Mrs Yewande Sadiku, has squandered the Internally Generated Revenue of the commission and, has ran the nation’s foremost investment agency aground.
Mrs Yewande Sadiku.
One the placards displayed by the protesters reads, “Yewande overshoot our IGR vote book without applying for supplementary IGR budget for council approval. Stop squandering our IGR.”
Placards hoisted on the gate of the commission by the protesters state that NIPC has become “a dead office” because of the “frustrative approach” with which Mrs Yewande Sadiku, was dealing with staff in her office.
Some of the placards read, “Yewande Must Go.” “Travelled over 80 times in 3 years. No results”, “She doesn’t know the difference between investment promotion and investment banking.”
The gate of the NIPC under lock and key during the protest.
Sadiku was appointed Executive Secretary/CEO of NIPC in September 2016 by President Muhammadu Buhari. She succeeded Hajiya Ladi Katagum, who was Acting Executive Secretary of the commission.
According to a bio posted on the NIPC’s website, Ms. Sadiku holds a Bachelor’s degree in Industrial Chemistry from the University of Benin and an MBA from University of Warwick, United Kingdom. She started her banking career with Nigeria International Bank Ltd., where she worked from 1992 to 1994.
Before her appointment as Executive Secretary/CEO of NIPC, Ms. Yewade Sadiku was the Executive Director of Corporate and Transactional Banking at Stanbic IBTC Holdings Plc. She has also served as Chief Executive of Stanbic IBTC Capital Limited, Head of Finance Department of Stanbic IBTC Bank Plc. (formerly IBTC Chartered Bank Plc.).
Sadiku has had a frosty relationship with the governing council of the commission led by Babangida Nguroje, a former deputy speaker of the House of Representatives, has blown open.
An online newspaper reported in 2019 that the relationship between the council and the executive secretary had gone sour leading to a confrontation between the two sides.
Recall that earlier in 2019, a member of the governing council, Ali Sani, wrote to the executive secretary questioning the payment of millions of naira each year to herself ”in the name of foreign leave allowance”.
Mr Sani alleged that the executive secretary collected over N40 million for 2017 and 2018.
Thursday’s protest by staff of the NIPC demanding Sadiku’s has further put the nation’s investment promotion commission on bad spotlight.
Police vehicle blocking the entrance to the commission during the protest.
Meanwhile, police in the FCT have clashed with protesting staff of the NIPC while trying to block them from carrying on the protest.
Staff of the commission were seen in a short video sent to our newsroom, shouting back at policemen who tried to stop their protest.
