Contract fraud: EFCC quizzes Yewande Sadiku, NIPC Executive Secretary
Standard Bank appoints Yewande Sadiku as Head of Investment Banking, International
Standard Bank has appointed Yewande Sadiku, the immediate past CEO of the Nigerian Investment Promotion Council (NIPC), as Head of Investment Banking, International.
A statement signed by Brian Marshall, Head, Investment Banking and Gert Vogel, Head International, said Sadiku’s appointment which is to take effect from September 12, 2022, is coming almost four months after she was appointed to the board of Flour Mills of Nigeria Plc as a non-executive director.
Yewande Sadiku bagged a Bachelor of Science in Industrial Chemistry in 1992 from the University of Benin, Edo State, Nigeria. By 1995, she had obtained her Master of Business Administration degree from the University of Warwick, United Kingdom.
Her career started after she was recruited straight from the university during the on-campus recruitment at the University of Benin and joined Nigeria International Bank Limited (now known as Citibank Nigeria) at the entry level immediately after school.
In 1994, she moved over to Investment Banking & Trust Company Limited (IBTC) also at entry-level, and she spent the next two decades of her career there as an investment banker.
She rose through the ranks working with the bank till when it became the Stanbic IBTC Group, and she became the Chief Executive of Stanbic IBTC Capital, the Group’s investment banking arm, in November 2012.
She also served as Executive Director, Corporate and Investment Banking at Stanbic IBTC Bank Plc, a subsidiary of Standard Bank of South Africa, Africa’s biggest bank before going into public service.
She was instrumental to the development of the Nigerian capital market, as she chaired the Rules and Compliance Sub-Committee of SEC’s Capital Markets Committee for about 12 years.
Her successful career in investment banking was a critical factor considered when President Muhammadu Buhari appointed her as Executive Secretary and Chief Executive Officer of Nigeria’s foremost investment promotion agency, Nigerian Investment Promotion Commission (NIPC), in September 2016.
Despite her stellar record, she has also suffered a controversy when she was invited by the Economic and Financial Crimes Commission (EFCC) to answer questions bordering on alleged abuse of office, contract fraud and allowances unaccounted for.
She was eventually vindicated and cleared of all charges. The statement released by the NIPC in reaction to this development revealed that the petitions against her had been previously investigated by another anti-corruption agency and she was found not to have any case to answer.
Sadiku was in February 2022 appointed to the Board of Directors Flour Mills of Nigeria Plc.
