Gwarzo’s Suspension: Reconstitute SEC Board Urgently, Workers’ Union Tasks FG

Gwarzo’s Suspension: Reconstitute SEC Board Urgently, Workers’ Union Tasks FG

SHARE:

Post Views: 772 • Says Gwarzo’s Suspension Long Overdue Against the backdrop of pile of corruption allegations against suspended Director-General of t...

At Below 6x, NGSE P/E Ratio Becomes More Attractive, As More Stocks Now Undervalued
Atiku Unveils Manifesto, Promises $90bn Annual Infrastructure Spend
New Minimum Wage: FBNQuest Boss Tasks States On Creativity Financing, Discipline

• Says Gwarzo’s Suspension Long Overdue

Against the backdrop of pile of corruption allegations against suspended Director-General of the Securities & Exchange Commission (SEC), the Association of Senior Civil Servants of Nigeria (ASCSN), on Wednesday urged President Muhammadu Buhari to as a matter of urgency reconstitute board to check abuse of office in future.
Meanwhile, at a time many insist the suspension of Mounir Gwarzo as Director-General of the commission was related to his planned forensic audit of energy giant- Oando Plc, the union applauded the Federal Government for the move, describing it as long overdue.
Gwarzo was suspended last week Monday on the orders of Mrs. Kemi Adeosun, Nigeria’s Finance Minister, along with “two management staff of the Commission – Mr. Abdulsalam Naif Habu, Head of Media Division and Mrs. Anastasia Omozele Braimoh, Head of Legal Department – who have been alleged to engage in financial impropriety in the Commission.”
in a statement, the union expressed full support of Gwarzo’s suspension on allegation of corruption, which it said would enable the administrative panel of inquiry investigate and determine his culpability, as well as those of his cohorts, or otherwise.
Given the sensitive nature of the capital market, the fact that it thrives on integrity, and at a time there are chains of corruption allegations against the suspended DG, the union argues that it is “extremely important” for Gwarzo to clear his name for the good of the market, ASCSN said in the statement signed by Comrade Isaac Ojemhenke, on behalf of the Secretary General.
“The sponsored report about Oando Plc forensic audit as being responsible for Mr. Gwarzo’s suspension is a deliberate and diversionary tactic to divert the public attention from the weighty allegations bothering on corruption,” it added.
Moreso, the workers alleged that during his tenure, Gwarzo worked hard to obliterate the SEC arm of their union just to ensure there is organ that would draw attention to his excesses. This, it continued, gave room for most of the abuses that are now subject of the corruption allegations.
The union says it entirely rejects attempts in some quarters to restore Gwarzo to office, since it bothers on serious breach of rules governing government parastatals.
“The attempt being made to change the narrative by bringing in the issue of forensic audit of Oando is neither here nor there. The right thing has been done by the government and we support the action,” Ojemhenke stressed.
Investdata Research recalls that the Peter Obi-led board of the SEC was one of those constituted in the twilight of the Goodluck Jonathan administration in 2015. The board was dissolved by his predecessor without a replacement.

COMMENTS

WORDPRESS: 0
DISQUS: 0