Alleged fraud: CACOL Petitions FG, Says Gwarzo Mustn’t Go Unpunished

Alleged fraud: CACOL Petitions FG, Says Gwarzo Mustn’t Go Unpunished

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Post Views: 391 For engaging in what they termed series of anti establishment manipulations to enrich himself through acts at variance with civil serv...

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For engaging in what they termed series of anti establishment manipulations to enrich himself through acts at variance with civil service rules and regulations, the Centre for Anti-Corruption and Open Leadership (CACOL), has petitioned President Muhammadu Buhari to ensure Mounir Gwarzo, suspended Director-General of the Securities & Exchange Commission (SEC) does not go unpunished, if found culpable.
The centre also urged the new chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye to also ensure that Gwarzo be made to face the consequences of his actions, in view of the weighty allegations against him.
While urging President Buhari to help unearth issues raised and ensure strict compliance with the rule of law, CACOL challenged Prof. Owosonoye to order a probe into the matter.
In the petition signed by Debo Adeniran, CACOL’s Executive Chairman, the group had alleged that the ICPC is plotting to ensure freedom for Gwarzo in the court, recalling that in November 2017 it drew the attention of the Federal Government and the public to large scale official abuse and gross official recklessness by Gwarzo.
The matter, the group continued, was subsequently taken from the Economic and Financial Crimes Commission (EFCC) and handed over to the ICPC, but that “rather than the ICPC charging Gwarzo for the two infractions based on the two verified allegations levelled against him, the ICPC chose to bring him before the FCT High Court in Abuja for only one infraction. It is instructive to note that his wife is also a member of the FCT judiciary.
“Perhaps more surprisingly, it would appear the investigator, one Taiwo Olorunyomi was merely in court to validate the appropriateness of Mr. Gwarzo paying himself gratuity while still in service and challenging the evidence put together by the very Commission (ICPC) he is working for.”
If not to let Gwarzo off the hook, CACOL wonders why Adesina Rajeev, the ICPC prosecutor chose to invite a witness who came to court mainly to validate the appropriateness of Gwarzo paying himself gratuity while still in office.
Another source of worry, it said is why Gwarzo is only being tried for one infraction when he was investigated by both the EFCC and ICPC and the Administrative Panel set up by the Minister of Finance for two offences.
Another poser for the Federal Government and the ICPC, the group continued, is whether there is “a grand plan to deliberately lose the case and let Mr. Gwarzo walk away free and be reinstated to SEC as we have reliably gathered.”
Gwarzo is alleged to have paid himself N104m upon resumption of duty as Director General of the SEC, claiming that the money was his severance benefit as Executive Commissioner, his position in the commission before being appointed by former President Goodluck Jonathan as DG in 2015.
The petitioners also accused Gwarzo being a director of Outbound Investment Ltd a company that was sole supplier of diesel to the commission, along with two of his relatives, even while he remained as SEC DG.
The same Outbound Investment Ltd, they continued, “also supplied air conditioners to the Lagos Zonal office of the Commission, as well as supplied fridges to the Commission.
“Payments made by the commission to the company for contracts executed can be verified from the Company’s bank account held with United Bank for Africa Plc, with account number 1016723428.
“In addition, the Company has executed more contracts for the Commission which are not listed in Appendix B1, however these contracts can be verified from the commission’s accounting records,” CACOL stressed.

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