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EXCLUSIVE: Buhari Government Fails To Act On Nigerian Senate Report Indicting NEXIM Bank Director, Okotete, Recommending Her Removal Since 2019

Stella
November 26, 2022

However, three years after the recommendation by the lawmakers, Okotete was re-appointed by President Muhammadu Buhari for another term of five (5) years.

In 2019, the Nigerian Senate recommended the resignation or sacking of Stella Okotete, Executive Director (Business development) at the Nigeria Export-Import (NEXIM) Bank over fraudulent misrepresentation regarding her qualification.

However, three years after the recommendation by the lawmakers, Okotete was re-appointed by President Muhammadu Buhari for another term of five (5) years.

NEXIM is an export credit agency in Nigeria, established in 1991.

In its function, NEXIM focuses on the development and expansion of the non-oil sectors of the Nigerian economy, with a view to reducing the country's over-reliance on oil exports.

In a report by the Committee on Ethics, Privileges and Public Petitions, it was revealed that Okotete fraudulently misrepresented her qualification to hold the post of Executive Director at the bank.

SaharaReporters learnt that the ruling All Progressives Congress chieftain did not have 15 years post-graduation experience required to occupy such high office as specified by the Central Bank of Nigeria circular of 15th October, 2015. 

Thirteen of which must be in active banking service and two of such years as General Manager.

“Following from the above observation, the Committee wishes to recommend as follows: that since Stella Okotete didn’t meet the 18 years post-graduation qualification requirement to assume office as Executive Director at NEXIM or any other Bank for that matter, she be directed to vacate that office with immediate effect,” the report by the committee read.

Meanwhile, despite the recommendation, some power brokers ensured that the report never saw the light of the day, SaharaReporters learnt. 

“She was even included in the Tinubu and All Progressives Congress presidential campaign council,” another source added. 

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