SEC DG, Gwarzo, to be dismissed – Source

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    Mounir Gwarzo for dismissal
    Mounir Gwarzo for dismissal

    By Racheal Ishaya

    The Administrative Panel of Inquiry set as much as look into the allegations of economic misconduct by the Director-General, Securities and Exchange Commission (SEC), Mr Mounir Gwarzo, has really useful the dismissal of the suspended officer from the Public Service.

    A replica of the report obtained on Tuesday in Abuja by our correspondent, confirmed that the panel discovered Gwarzo responsible of violating public service guidelines and monetary rules.

    The doc was obtained from a supply.

    The suggestions are coming two months after the Minister of Finance, Mrs Kemi Adeosun, suspended Gwarzo from workplace over allegations of economic misappropriation to the tune of  N104.85 million.

    Adeosun who additionally confronted an investigative panel of inquiry within the House of Representatives on Tuesday, insisted that Gwarzo’s suspension was legitimate.

    In coming to the conclusion, the Panel, which was chaired by the Permanent Secretary, Federal Ministry of Finance, Mr Mahmoud Isa-Dutse, stated that it made inquiries at Corporate Affairs Commission, banks and different main stakeholders.

    The panel stated it discovered official letters, financial institution accounts and bank cards that tied Gwarzo as a Director to 2 personal corporations, whereas sustaining his place because the Director-General of SEC, which was “a breach of civil service rules”.

    The report, which had additionally been submitted to the Minister of Finance, Kemi Adeosun, directed Gwarzo to refund N104.85 million, being the severance package deal he allegedly authorised and acquired upon his appointment as Director-General of SEC.

    “Mr Mounir Gwarzo must be dismissed from the Public Service of the Federal Government for holding positions of a Director in personal corporations – Medusa Investment Limited and Outbound Investment Limited, whereas serving as D-G SEC.

    “This is in breach of PSR 030424, PSR 030402 and Section 6 of the Investment and Security Act, 2007.

    “He must also be referred to the ICPC for additional investigation on the allegation of utilizing his place as Director-General to affect the award of contracts to Outbound Investments Limited in view of the provisions of sections 57 and 58 of the Public Procurement Act.

    “He must also be dismissed from the Public Service,  having breached  paragraph 313 and 316 of the Financial rules, for participating in further budgetary expenditure with out acceptable approval,’’ the report acknowledged.

    The panel additionally really useful that the instances of two administration officers of the fee, Mrs Anastasia Braimoh and Mr Abdulsalam Naif,  be referred to SEC for acceptable disciplinary motion according to the provisions of the Staff Manual of SEC.

    The panel suggested the Federal Government to re-orientate public servants to the truth that the Public Service Rules and Financial Regulations awer floor norms of each Government Service Contract, be it on the federal, state or native authorities ranges.

    “Accordingly, all Government Extra-Ministerial Departments and Agencies must be made to grasp that the PSR and FR are superior to no matter particular laws and home preparations that information their operations,’’ it acknowledged.

    Gwarzo allegedly paid himself N104 .85 million severance package deal when he was appointed DG SEC from the place of a Director in the identical fee.

    The motion allegedly contravenes the standing rule within the civil service which states that severance profit can solely be paid to an worker who has concluded his or her service or has utterly disengaged from service.

    Gwarzo was promoted inside the fee to grow to be a DG.

    Gwarzo was additionally accused of utilizing his workplace to award contracts to 9 corporations in  which he allegedly had curiosity.

    They allegedly embrace 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.

    Also suspended was Mr Abdulsalam Naif, Head of Media Division, SEC and Mrs Anastasia  Braimoh, Head of Legal Department  of SEC for his or her alleged roles  within the matter.

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