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).
News About Nigeria understands that her sack is coming barely two days after the president fired Mohammed Sani, executive vice-chairman (EVC) of the National Agency for Science and Engineering Infrastructure (NASENI).
The decision was announced by Femi Adesina, the Special Adviser to the President (Media and Publicity), in a statement issued on Thursday.
According to the statement, the President directed the Minister of Industry, Trade and Investment, Niyi Adebayo, to appoint the most senior Director in the Commission to immediately take over the position in the interim.
Hajiya Saratu Umar was appointed into the position for a fresh term of five years on July 5, 2022, by President Buhari. She was first appointed to the position in July 2014.
At the time of her appointment, the Presidency had disclosed that Hajiya Saratu Umar holds a Bachelor of Science degree in Economics from the 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.
The statement had described her as 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.
According to the statement, “In the short period of her service as Executive Secretary, she transformed the NIPC into a world-class investment agency and minimized revenue leakages, saving the country N500 billion, for which she received a commendation from the Revenue Mobilization and Fiscal Commission, RMFC.”
The reason for the termination of Hajiya Saratu Umar’s appointment was not given in the statement issued by the Special Adviser to the President.
The Nigeria Investment Promotion Commission is a federal government agency responsible for encouraging, promoting, and coordinating investments in Nigeria.