The Executive Secretary/Chief Executive Officer of the Nigeria Investment Promotion Commission, Hajiya Saratu Umar, has been fired effective immediately in less than a year after appointment.
According to Nairametrics, this information was released in a statement by a media adviser to the President, Femi Adesina, who confirmed that she had been fired on Thursday after being appointed CEO of the Investment Council in July 2022.
Femi Adesina’s statement only acknowledged her dismissal and made no mention of the reasons why her employment was terminated.
According to the President’s spokesman, Mr. Femi Adesina, the Presidency also directed the Minister of Industry, Trade, and Investment, Richard Adebayo, to promptly appoint the most senior Director in the commission to immediately take over in the interim.
“With immediate effect, President Muhammadu Buhari has terminated Hajiya Saratu Umar’s appointment as Executive Secretary/Chief Executive Officer of the Nigeria Investment Promotion Commission.”
Remember that President Muhammadu Buhari had Hajiya Saratu Umar appointed as the Executive Secretary/Chief Executive Officer of the Nigerian Investment Promotion Commission for a five-year term.
Umaru succeeded Yewande Sadiku, who had served as Chairman of the Commission for five years as of 2021.
Hajiya Saratu Umaru has a Bachelor of Science degree in Economics from Ahmadu Bello University and an MBA in Finance and Banking.
“She has received local and international training in all key areas of her profession, including leadership, strategy, general management, risk management, and public speaking.
“Saratu Umar is a technocrat, reformer, strategist, economist, investment promotion specialist, and export development specialist with experience in Nigeria’s public and private sectors in banking and finance, investment, and consulting.”
On Friday, September 24, 2021, the former CEO and Executive Secretary of NIPC, Yewande Sadiku, handed over her duties to the most senior Director of the Commission, Mr. Emeka Offor, after serving for five years.
The Independent Corrupt Practices and Other Related Offences Commission also exonerated Sadiku of all past accusations of corruption and fraud.
In December of last year, Umar stated that the Federal Government would simplify import substitution to facilitate exports and conserve foreign currency to attract FDI under the African Continental Free Trade Agreement adding that the President fully supports the drive to strengthen the investment drive in Nigeria.
She claimed that because government policies make it simple for investors to conduct business in every region of the nation, the NIPC is similarly positioned to entice more investors into the Nigerian market.
“Supporting the drive to improve Nigeria’s investment drive is the main lesson I learned from my meeting with the president, he is willing to do everything in his power while still serving as president of Nigeria to ensure that the nation’s investment push gains significant traction.”
