ICPC clears Sadiku, ex-NIPC boss


Former Chief Executuve Officer and Executive Secretary of the Nigerian Investment Promotion Commission (NIPC), Yewande Sadiku has been absorbed of corruption charges by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

An investment banker and former CEO of Stanbic IBTC Capital, Sadiku served as NIPC CEO from September 2016 until three months ago. As NIPC's head, she was alleged to have “embarked on foreign trips without express approval of the governing council of the commission; used the commission’s fund to repair her damaged personal vehicle”, as well as received “illegal foreign leave allowance”.

But in a 16th December communication to the new NIPC CEO, the ICPC narrated that it received a petition against Sadiku and some other officials of the NIPC, accusing them of mismanaging public funds.

The allegations, according to ICPC, are summarised as “fraudulent abuse of office; waste and mismanagement of public funds by the Executive Secretary of the NIPC through incessant tours and travels within and outside Nigeria without adding value to the Commission”.

However, ICPC Director of Operations, Akeem Lawal, in the letter, said the allegations could not be substantiated.

“Upon investigation, none of these allegations was established, and the striking out of suit No FAC/ABJ/CS/249/2019 by his lordship, Hon. Justice A.R. Mohammed of the federal high court of Nigeria, Abuja division, brings the investigation to a close,” the letter reads.

The NIPC had issued a statement in August that Sadiku voluntarily honoured an invitation by the Economic and Financial Crimes Commission (EFCC), contrary to reports that she was arrested and detained over allegations of contract fraud.

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