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How Buhari appointed ‘unqualified’ Stella Okotete as NEXIM Bank Director against CBN Act

Buhari

The appointment of Stella Okotete as Executive Director (Business Development) at the Nigeria Export-Import (NEXIM) Bank is against the Central Bank of Nigeria’s criteria for approved persons’ regime for financial institutions, SaharaReporters has gathered.

Okotete was in April 2022 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.

The resume of Okotete obtained by SaharaReporters revealed that she is not qualified for the position.

“A minimum of first degree or its equivalent in any discipline plus a higher degree or professional qualification in any business related discipline. Candidates must also have a minimum of 18 years post-graduation experience, out of which at least 13 must be in the banking industry and at least 2 as General Manager,” the document read.

“Evidence of experience in several areas of banking operations including business development and customer services management.”

The ruling All Progressives Congress chieftain did not have the 18 years of post-graduation experience required to occupy such high office as specified by the CBN circular of 15th October 2015.

It was revealed that Okotete also doesn’t have any experience in the banking industry as required by the law.

 

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