NIPC leadership reacts to EFCC investigation into CEO


The Nigerian Investment Promotion Commission (NIPC) has denied any wrongdoing by its Director General (CEO), Yewande Sadiku, when questioned by the Economic and Financial Crimes Commission (EFCC) for allegations of corruption.

NIPC leadership said so in a statement reacting to media reports of his interrogation by the EFCC on Monday.

PREMIUM TIMES and other media platforms reported on Monday that Ms Sadiku had been questioned about numerous corruption allegations for more than nine hours.

But the NIPC leadership said following Monday’s reports that petitions against her have already been investigated by other anti-corruption agencies and that they have no cases to respond to. .

They described Ms. Sadiku, who is also the Executive Secretary of NIPC, as “a diligent public servant and proud of her service in Nigeria”.

“She is deeply committed to governance and accountability and therefore challenges anyone with evidence of any wrongdoing on her part in the service of the NIPC to make it public.

“The petitions being investigated by the EFCC contain issues that have been investigated by other anti-corruption agencies, none of which have indicated that they have a case in mind. respond, “the statement added.

“Not arrested or detained”

The commission’s leadership also said that it had voluntarily honored an invitation from the EFCC and had not been arrested or detained, as has been reported in some quarters.

“The attention of the management of the Nigerian Investment Promotion Commission has been drawn to certain media reports that Executive Secretary / CEO Ms. Yewande Sadiku has been arrested and detained by the Economic and Financial Crimes Commission (EFCC ) on Monday 09 August 2021.

“Management specifies that Ms. Yewande Sadiku has voluntarily honored an invitation from the EFCC and responded to the issues raised,” part of the statement read.

He added: “She honored an invitation from the EFCC on August 9, 2021; she was neither detained nor arrested ”.


Sources familiar with the matter told PREMIUM TIMES that she arrived at the EFCC headquarters in Abuja on Monday at around 11 a.m.

One of the sources, who asked not to be named for lack of permission to speak on the matter, revealed that some petitioners accused the NIPC boss of abuse of power, contract irregularities and collection of certain indemnities.

At the time of filing the report on Monday, she had reportedly spent more than nine hours with her interrogators.

Although the details of the allegations against her are vague, PREMIUM TIMES is aware that some aggrieved members of the board of directors of her organization have repeatedly accused her of wrongdoing, reproducing petitions to several investigative agencies. and the presidency.

The official has always denied any wrongdoing and all the agencies that investigated her, including the ICPC and the Code of Conduct Office, have not established any wrongdoing so far.

NIPC insiders said some board members and senior staff were upset with Ms Sadiku for insisting on due process and accountability in the agency’s operation.

Ms. Sadiku has served as Executive Secretary / CEO of NIPC, Nigeria’s leading investment promotion agency, since November 2016.

Until October 2016, she was the Executive Director responsible for the corporate and investment banking activities of Stanbic IBTC Group, ensuring the realization of business opportunities in Nigeria’s complex operating environment.

Her profile on the NIPC website says that she managed key relationships with regulators and several of Nigeria’s major commercial and multinational clients. Ms. Sadiku was previously Managing Director of Stanbic IBTC’s investment banking operations.

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