February 4, 2023



NEXIM: Okotete fires again at protesters 

Few hours after a gaggle underneath the aegis of Legal professionals for Reform,  threatened to tug President Muhammadu Buhari to courtroom if Stella Erhuvwuoghene Okotete isn’t eliminated  as Government Director of Nigerian Export – Import Financial institution ( NEXIM), the embattled financial institution director fired again.

The group had in a protest tagged “#Take away Stellaokotetenow” , staged within the early hours of Thursday December 1, 2022 on the most important entrance of the Nationwide Meeting, mentioned the NEXIM ED, was not certified by each customary to carry the place.

Barrister Oladotun Hassan Esq, who led the protest alleged that  appointment of Stella Okotete as Government Director of NEXIM by President Muhammadu Buhari in April 2017 was fallacious headed going by clearly stipulated necessities within the extant legal guidelines governing the Financial institution. 

In keeping with him, Okotete didn’t have the required 18 years put up commencement working expertise earlier than her appointment and even not having related educational qualification in monetary accounting, banking or any enterprise associated programs.

“What can solely be gotten from fraudulently concocted curriculum vitae of Okotete is that she is a former Counsellor and Magnificence Salon Hairdresser.

“That is an arrant shame and monumental embarrassment to Authorities of President Muhammadu Buhari that prides itself as Anti – Corruption Crusader.

“Within the face of the legislation , particularly going by the Central Financial institution of Nigeria Act Laws and Order 41(3) of the Senate Rule and by purpose of her lack of capability to not have served within the banking service for 18 years , Okotete isn’t match and benefit to proceed to carry the Government Director of NEXIM Financial institution , we subsequently name on President Muhammadu Buhari to behave decisively accordingly.

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“We additionally request that Okotete ought to upon removing from workplace, be prosecuted for deceptive all the Nigerians with false misrepresentations utilized in securing the appointment.

“If nothing significant isn’t urgently executed in respect to our calls for on or earlier than seventh December, 2022, we will not hesitate to hunt authorized sanction in opposition to President Muhammadu Buhari  led federal authorities of Nigeria,” he mentioned.

However in a swift response by the Financial institution, the protesters had been alleged to have acted in ignorance.

The Financial institution in assertion dated 1st December, 2022, mentioned provision of part 8(3) of NEXIM Act which gives for a Managing Director, two Government Administrators and two non – government administrators, doesn’t lay out qualification for government administrators, one in every of which is being occupied by Stella Okotete.

“No provision in NEXIM Act lays out {qualifications} for appointment of Government Administrators or any Director of the Financial institution.

“Okotete in collaboration with different Administrators of the Financial institution, has throughout the final 5 years, introduced development in profitability and drastic discount of non – performing loans,” the assertion confused.

It added that President Buhari didn’t violate any extant legal guidelines or in home banking procedures, on the appointments of Okotete and others.