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Former NIPC Boss, Sadiku appointed into Flour Mills Board

A former executive secretary and chief executive officer of Nigerian Investment Promotion Commission, Yewande Sadiku, has been appointed to the board of Flour Mills of Nigeria Plc, the food company said in a regulatory filing published by the Nigerian Exchange Friday.

The firm appointed Ms Sadiku, who helped bring reforms to the commission but faced intense opposition from staff, as a non-executive director with effect from February 16.

Sadiku is the immediate past executive secretary/chief executive officer of NIPC, which she led between November 2016 and September 2021.

Taking transparency as part of the focal point of her administration, the 49-year-old helped improve the reputation of NIPC in the Freedom of Information ranking for compliance and transparency from 90th position to 1st position within five years.

NIPC’s internally generated revenue grew from N296 million to N3.1 billion under her watch.

Ms Sadiku faced a myriad of battles from entrenched interests during her NIPC years in her quest to sanitise the agency, the high point of it being allegations of corruption and lawsuits, some from the commission’s governing board.

Last month, the Independent Corrupt Practices and other related offences Commission exonerated her of graft and fraud charges after completing its investigations.

Prior to joining the government department, Ms Sadiku headed Stanbic IBTC’s investment banking arm, Stanbic IBTC Capital.

“In her banking career, spanning 23 years, Ms. Sadiku handled assignments for clients in virtually every sector of the Nigerian economy, providing strategic financial advice, while ensuring strict legal and regulatory compliance,” Flour Mills, Nigeria’s biggest listed consumer goods firm by revenue, said.

A recipient of the Eisenhower Fellowship for International Leadership, she is at the moment the acting chairman of the board of trustees of the Investors’ Protection Fund of Nigerian Exchange Limited.

Sadiku’s executive leadership experience of more than 20 years in investment banking and the capital market “will be of tremendous value to FMN as we continue to position the group to take advantage of the ever-changing consumer landscape in the foods and agro-allied sectors,” said CEO John Coumantaros.

“Her appointment represents our determination to ensure that we have a diverse mix of gender, skills and viewpoints on the FMN board as we continue to fulfil our agendaof feeding the nation, everyday,” he added.

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