Home Finance Group raises dust over Buhari appointing Hair Dresser as NEXIM Executive Director, gives seven days ultimatum for her removal

Group raises dust over Buhari appointing Hair Dresser as NEXIM Executive Director, gives seven days ultimatum for her removal

by Business News Report

A group  under the aegis of Lawyers for Reform has given President Muhammadu Buhari an ultimatum of seven days to remove  Stella Erhuvwuoghene Okotete  as Executive Director of Nigerian Export – Import Bank ( NEXIM). The group in a protest tagged “#Remove Stellaokotetenow” and  staged at  the main entrance of the National Assembly, threatened that at the expiration of the ultimatum and failure on his part to remove her, the only option would be to drag President Buhari to Court. Addressing news men during the protest, the leader of the group, Barrister Oladotun Hassan said that the NEXIM ED was not qualified by every standard to hold the position. He said that the appointment of Stella Okotete as Executive Director of NEXIM by President Muhammadu Buhari in April 2017 was wrong headed going by clearly stipulated requirements in the extant laws governing the Bank. 

According to him , Okotete did not have the required 18 years post graduation working experience before her appointment and even not having relevant academic qualification in financial accounting , banking or any business related courses. He said, “what can only be gotten from fraudulently concocted curriculum vitae of Okotete is that she is a former Counsellor and Beauty Salon Hairdresser. This is an arrant disgrace and monumental embarrassment to Government of President Muhammadu Buhari that prides itself as Anti – Corruption Crusader. In the face of the law , specifically going by the Central Bank of Nigeria Act Regulations and Order 41(3) of the Senate Rule and by reason of her lack of capacity not to have served in the banking service for 18 years , Okotete is not fit and merit to continue to hold the Executive Director of NEXIM Bank , we therefore call on President Muhammadu Buhari to act decisively accordingly.

“We also request that Okotete should upon removal from office , be prosecuted for misleading the entire Nigerians with false misrepresentations used in securing the appointment. If nothing meaningful is not urgently done in respect to our demands on or before 7th December , 2022, ; we shall not hesitate to seek legal sanction against President Muhammadu Buhari  led federal government of Nigeria “ The leader of the group further explained that the  move to get the allegedly incompetent and unqualified Okotete removed , was made in 2018 when petition to that effect was forwarded to the then , Senator Sam Anyanwu led Senate Committee on Ethics , Privileges and Public Petitions. 

According to the group, the Committee in its findings , confirmed that Okotete did not have the requisite qualifications and experience for the position, but that the Secretary to the government of the Federation , Boss Mustapha , had all along been blocking implementation of Senate’s resolution against the embattled NEXIM boss.

In a swift reaction few  hours after the  group under the aegis of Lawyers for Reform protested and calling for her removal, the embattled  Stella Erhuvwuoghene Okotete has fired back. The NEXIM bank while reacting, alleged that  the  protesters acted out of  ignorance. The Bank in statement dated 1st December, 2022, said provision of section 8(3) of NEXIM Act which provides for a Managing Director, two Executive Directors and two non – executive directors, does not lay out qualification for Executive Directors, one of which is being occupied by Stella Okotete. No provision in NEXIM Act lays out qualifications for appointment of Executive Directors or any Director of the Bank. Okotete in collaboration with other Directors of the Bank , has within the last five years , brought growth in profitability and drastic reduction of non – performing loans “, the statement stressed. It added that President Buhari did not violate any extant laws or in house banking procedures,  on the appointments  of Okotete and others.

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