The continued stay in office of Managing Director Nigeria Investment Authority (NSIA) Uchechi Orji is generating ripples within the agency, Blueprint has learnt.
Orji, who was first appointed by President Goodluck Jonathan in 2012, was reappointed by President Muhammadu Buhari October 12, 2017.
In line with the NSIA Act, his first tenure of four years ended 2016 but remained in office until 2017 when he was re-appointed, a decision that negates the law establishing the agency.
Orji’s reappointment in 2017 for another four-year tenure contravenes the law establishing the NSIA, according to our investigations, as the two tenures ought to have ended 2020.
But a presidency source said there’s nothing to query about the appointment as the president is at liberty to renew any appointee’s tenure if he so desires.
The NSIA, an agency of the federation set up to manage funds in excess of budgeted hydrocarbon revenues, derives its mandate from the NSIA Act which was signed into law May 2011.
NSIA Act
Section 20 (4) of the Nigeria Investment Authority (Establishment Act), prescribes that the two tenures of the agency’s managing director shall not exceed eight years in total.
This implies the law only foresees a maximum of two tenures of four years each. In other word, the MD could only be appointed for a four-year tenure, renewable for another four years.
Blueprint further gathered that if the law is appropriately followed, Orji’s two tenures as NSIA helmsman ought to have terminated October 12, 2020.
It’s abuse
An NSIA source who craved anonymity said: “The current MD continues to stay in office because he enjoys the backing of some top shots in the presidency who facilitated his re-appointment in 2017 for a fresh tenure which expires 2021, having enjoyed a free year when his initial tenure expired 2016 but renewed 2017.
“It is possible that the attention of President Buhari has not been drawn to the illegal elongation of the MD’s tenure. Someone, who took an oath of office, should know when his term comes to an end and should take steps to bow out appropriately.
“The reason for such oversight may be because the Secretary to the Government of the Federation, (SGF) Boss Mustapha, who oversees these agencies, is burdened with lots of responsibilities. So, no appointee should take advantage of that by way of continuing to stay in office after his/her tenure expires.”
The source further recalled the “exemplary character” of the chairman, Independent National Electoral Commission (INEC) where its head, Professor Mahmood Yakubu handed over upon completion of his tenure without any prompting.
‘Re-appointment deserving’
But another source told Blueprint that “there is no rigidity in law as it is meant for man not man for law. You may recall that he was the pioneer chief executive of the agency and the need for some stability necessitated his tenure renewal. We should look at what he has achieved and nothing more. Above all, the president has the right to reject him and bring on board a new person if he so desired. For us in the agency, we are at peace with it because he is getting the job done.”
When Blueprint sought the reaction of the Director (Press) OSGF, Willie Bassey, he simply said, “that’s within the purview of the Finance Ministry whose officials are most competent to speak on the matter.”
At the Finance and Budget Ministry, another source who asked not to be named because he was not officially detailed to comment on the issue, said “the Presidency is better positioned to clarify issues around the appointment.
“Be that as it may, I think it is a non issue because appointment and reappointment is at the president’s discretion. In the wisdom of President Muhammadu Buhari, the appointee deserved tenure because of his performance and he’s been given. Like I said, this is not an official position.”
AMCON
Similarly, the CEO of the Asset Management Corporation of Nigeria (AMCON), Ahmed Lawan Kuru, had completed his tenure August 18, 2020, having been appointed for five –year tenure August 18, 2015.
By the law establishing AMCON, the agency ought to have gone into extinction since August 2020, having been established as a 10-year response corporation by the National Assembly in 2010.
It was designed “to be a key stabilizing and re-vitalizing tool aimed at reviving the financial system by efficiently resolving the non-performing loan assets of banks in the Nigerian economy, during the global financial crisis.”
But as things stand, the agency is neither collapsed nor a new helmsman appointed ahead of its winding up since Kuru had completed his tenure.
Our investigation revealed official activities were ongoing at the agency.
“We are doing our bits here without any acrimony. Tenure or no tenure, the orgainsation is running. But I must tell you, if the president is pleased with the running of the agency, I want to believe who is there does not matter. Heads of government agencies are appointed at different times with different tenures and that the onus is on Mr. President to either renew such tenure or appoint another as the case may be,” volunteered a source who spoke under anonymity.
