“Investment Promotion is not what any country should joke with; it is a serious business all over the world and as such it cannot be left in the hands of someone who was sacked for gross incompetence and who does not have the capacity to effectively drive the Commission.”
By Our Reporter
There is tension at Nigerian Investment Promotion Commission (NIPC) over the appointment of Saratu Umar as the Executive Secretary/CEO by President Mohammadu Buhari.
Our checks reveals that there are agitations because Saratu who was recently appointment by President Buhari was fired by former President Goodluck Jonathan in May, 2015, a year after her appointment ”over gross incompetence and high-handedness”.
Nigerians are shocked that the President could appoint someone who was sacked as the Executive Secretary/CEO of the Commission when she has not been cleared of the allegations that led to her removal seven years ago.
Investigation by our Reporter shows that what is even more worrisome is the official claim that she is an Investment Banker and that her appointment was renewed which has led to the suspicion that Saratu was probably presented to President Buhari as the immediate past Executive Secretary/CEO, Yewande Sadiku who is an Investment Banker.
Sources within Federal Ministry of Trade and Investment as well as NIPC who spoke to our Reporter on condition of anonymity said the President must have been misled into making such appointment which could have negative effect, not only on NIPC but Nigeria’s efforts at attracting investment Saratu Umar is believed to be close to a top official of the Presidency who must have used his closeness to the President to influence her appointment.
“Investment Promotion is not what any country should joke with; it is a serious business all over the world and as such it cannot be left in the hands of someone who was sacked for gross incompetence and who does not have the capacity to effectively drive the Commission.” said a source.
Another credible source at NIPC who pleaded not to be named citing security reasons told our Reporter that instead of appointing a controversial person, the President should have sourced for a competent hand from the private sector, NIPC or even from amongst retired as directors of the Commission.
When asked whether Saratu actually saved Nigeria of N500 billion as one of the justifications for her re-appointment, the source dismissed the claim saying it was propaganda.
His words: “There is no iota of truth in that, tell me, how did it happened? Even the media report that she an investment banker when she was appointed is not correct. I can tell you for free that Saratu only worked with NEXIM Bank. I want to ask you, is NEXIM Bank, an investment banking institution.
“I have a strong feeling that those who presented Saratu to the President made him believe that she is the immediate past CEO who is an investment banker.”
Investment analysts are worried that if the controversy surrounding Saratu’s appointment is not properly and immediately addressed, it might have a negative effect on the nation’s economy considering the core mandate of NIPC as an agency saddled with the responsibly of attracting foreign investment to Nigeria.
