Key highlights
- Hajiya Saratu Umar has been removed with immediate effect.
- Trade Ministry ordered to find an interim replacement for her.
- Umaru holds a Bachelor of Science degree in Economics from Ahmadu Bello University and an MBA in Finance and Banking.
The Executive Secretary/Chief Executive Officer of the Nigeria Investment Promotion Commission (NIPC), Hajiya Saratu Umar has been removed from her position with immediate effect.
This was disclosed in a statement by a media aide to the Presidency, Femi Adesina confirming her sacking on Thursday after she was appointed as CEO of the Investment Council in July 2022.
Femi Adesina’s statement only confirmed her sacking and did not in any way give any reasons for the termination of her position.
Sacked
The President’s spokesman, Mr. Femi Adesina, stated that the Presidency also ordered that the Minister of Industry, Trade, and Investment, Richard Adebayo, place the most senior Director in the Commission to immediately take over in the interim, they added:
- “President Muhammadu Buhari has terminated the appointment of Hajiya Saratu Umar as the Executive Secretary/Chief Executive Officer of the Nigeria Investment Promotion Commission (NIPC), with immediate effect.”
What you should know
Recall that Nairametrics reported last July that President Muhammadu Buhari approved the appointment of Hajiya Saratu Umar as Executive Secretary/Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC) for a period of five years.
Umaru replaced Yewande Sadiku who as of 2021 had completed a five-year tenure as head of the Commission.
Umar
Hajiya Saratu Umaru holds a Bachelor of Science degree in Economics from Ahmadu Bello University and an MBA in Finance and Banking.
- ”She is trained locally and internationally in all core aspects of her career, as well as in leadership, strategy, general management, risk management, and corporate governance.
- ”Saratu Umar is a technocrat, reformer, strategist, economist, investment promotion expert, and export development specialist, with experience in banking and finance, investment and consulting segments of the public and private sectors of Nigeria.”
Backstory
Yewande Sadiku, the former CEO and Executive Secretary of NIPC stepped aside after completing a five-year tenure, she handed over to the most senior Director of the Commission, Mr. Emeka Offor on Friday, 24th September 2021.
Sadiku was also cleared by the Independent Corrupt Practices and Other Related Offences Commission of all allegations of corruption and fraud earlier leveled against her.
Policies
Last December, Umar said that in order to attract FDI under the African Continental Free Trade Agreement (AfCFTA), FG will simplify import substitution to facilitate exports and save forex, adding that the President fully supports the drive to strengthen the investment drive in Nigeria
She stated the NIPC is equally poised to woo more investors into the Nigerian domain because of the policies of government that make it easy for investors to do business in any part of the country.
- “The major takeaway from my meeting with the president supports; supporting the drive to strengthen the investment drive of Nigeria. He is willing within the time, he is still here as president of Nigeria to do the best he can to ensure the country’s investment drive is given a lot of traction.”
