NIPC denies reports of CEO’s arrest

THE management of the Nigerian Investment Promotion Commission (NIPC) has denied reports of the arrest and detention of its Chief Executive Officer Yewande Sadiku by the Economic and Financial Crimes Commission (EFCC).

The commission said in a statement released on Tuesday that Sadiku only honoured an invitation by the EFCC and was not arrested or detained.

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

“Management clarifies that Ms Yewande Sadiku voluntarily honored an invitation by EFCC and responded to the issues raised,” it read.

According to a report, she was questioned for abuse of office, contract fraud running into several millions of naira and some allowances which had not been accounted for.



    Some aggrieved board members in the NIPC were reported to have accused Sadiku of duplicating petitions to several investigative agencies and the presidency.

    EFCC Spokesman Wilson Uwujaren confirmed her presence in the commission to Premium Times but declined further comment.

    Sadiku has been the Executive Secretary/CEO of NIPC since November 2016.

    Until then, she was the executive director responsible for Stanbic IBTC Group’s corporate and investment banking business.

    Ijeoma Opara is a journalist with The ICIR. Reach her via [email protected] or @ije_le on Twitter.

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