Group Condemns Planned Reinstatement Of Suspended SEC Director General

 Suspended SEC Director General, Gwarzo

A pro-good governance group, Network for Good Governance Against Corruption (NGGAC) has condemned the reinstatement of sacked Securities and Exchange Commission (SEC) Director General, Mounir Gwarzo by the National Industrial Court on the 30th of May.

The Group through a press statement by its Convener Comrade Idris Kado, held that the allegations against the Director General were too grave and indicts the anti corruption war of President Buhari’s administration.

Recall that Mounir Gwarzo was fired by former Finance Minister Kemi Adeosun to allow for an unhindered investigation after he was accused of collecting severance package worth N104.85 million which clearly violates the civil service rules.

It is also pertinent to note that, the ICPC had filed five count charges accusing Gwarzo of receiving, between May and June 2015, the sum of N104,851,154.94 as severance benefit when he had yet to retire, resign or disengage from service; and also the sum of N10,983,488.88 as car grant” he was not entitled to.

In two of the five counts, ICPC accused Garuba, a former Executive Commissioner, Corporate Services of SEC, of conferring corrupt advantage on another public officer in the person of Gwarzo by approving the payments to the suspended SEC boss.

The group acknowledges the judgement of the National Industrial Court which ruled that the former finance Minister lacked the power to sack the Director General but insisted that the allegations of corruption were still disgraceful to the President Buhari’s administration which swore to rid the Nation’s institutions of corruption.

“It is a slap on the Integrity of the President’s anti corruption war that Mounir Gwarzo who clearly violated the Civil Service rules and paid himself monies illegally is reinstated into office. President Buhari must intervene and uphold the sack of Mounir Gwarzo” the statement read.

“…as lovers of Good Governance, it is our expectation that President Buhari who has the power to sack the SEC DG, fires him pending the outcome of the investigation…” the statement concluded.