More Troubles For Suspended SEC DG, Mounir Gwarzo As EFCC Investigates Commission’s Activities
Director-General, Securities and Exchange Commission, Mr.
Mounir Gwarzo
The suspended director-general of the Securities and
Exchange Commission, Mounir Gwarzo, is facing at least two enquiries over his
role as helmsman of the commission since 2015.
Apart from the administrative enquiry ordered by the
Minister of Finance, Mrs Kemi Adeosun, Gwarzo is also being investigated by the
Economic and Financial Crimes Commission.
EFCC wants to unravel the owners of the nine companies that
were awarded contracts by the SEC under Gwarzo.
They include Outbound Investment Limited, Medusa Investments
Limited, Northwind Environmental Services, Micro-Technologies Limited, Tida
International Limited, Outlook Communications, Acromac Nigeria Limited, Balfort
International Investment Limited and Interactiven Worldwide Nigeria Limited.
According to the EFCC, Gwarzo, his wife and other cronies
allegedly used these companies to carry out illegal transactions in SEC.
Gwarzo, 30 months old as SEC DG, was suspended by the
finance minister over allegations of financial misappropriation.
He replaced Ms. Arunma Oteh, who resigned in January 2015.
Gwarzo was then the Commissioner in charge of operations.
Finance Ministry’s Deputy Director of Information, Mrs
Patricia Deworitshe in a statement on Wednesday said that the suspension was to
allow an unhindered investigation into several allegations of financial
impropriety levelled against Gwarzo.
Deworitshes said that Mr Abdulsalam Naif Habu, Head of Media
Division, SEC and Mrs Anastasia Braimoh, Head of Legal Department of SEC had
also been suspended.
“The suspension is in line with the Public Service Rules
(PSRs) 03405 and 03406.
“The Minister has set up an Administrative Panel of Inquiry
(API) to investigate and determine the culpability of the Director-General.
“She has directed the suspended SEC Director-General to
immediately hand over to the most senior officer at the Commission, pending the
conclusion of investigation by the API,” she said.
Gwarzo allegedly paid himself N104 million severance package
when he was appointed DG SEC from the position of a Director in the same
commission.
This is in total disregard to the standing rule in the civil
service which states that severance benefit can only be paid to an employee who
has concluded his or her service or has completely disengaged from service.
Since Gwarzo was promoted within the commission to become a
Director-general, the service rule says that he’s not yet entitled to a
severance package.
Gwarzo, aged 52, attended Bayero University in Kano, where
he read Economics.
NAN
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