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…As Federal Workers Said Gwarzo Removal is Long Overdue
…Calls For SEC Board To Be Constituted
As the forensic auditing into the activities of Oando Plc on the Nigerian Stock market commenced Wednesday, some operators in the market have asked Mr. Mounir Gwazor, the suspended Director General of the Securities and Exchange Commission (SEC) to respond squarely to issues of infractions brought against him.
The operators said it has become germane for Gwarzo to furnish the constituted authorities with his responses on time so as to save the capital market any form of erosion in value and integrity, which are the two major hallmarks of its operations.
The Finance Minister, Kemi Adeosun had last week suspended Gwarzo over allegations that he approved N104m severance package for himself while still in service, among others.
Two other top management officials of SEC were also suspended. They are the Head of the Media Division, Mr. Abdulsalam Naif, and the Head of Legal Department, Anastasia Braimoh.
Speaking to nationalwire on Wednesday, two market operators who choose not to be mentioned in print, said, it’s high time, the embattled SEC DG should take the part of honour and clear himself once and for all. They claimed that since the forensic audit he called for has commenced, he should clear himself of any allegations, more especially as he is the head of a regulatory body that regulate activities in the stock market where millions of investors have their money.
They said that, the stock market being a global market, noting should be done in isolation, because investors around the globe are watching closely how event unfolds in the domestic market, even as this will inform their decision on the domestic economy.
Meanwhile, federalfederathe workers under the aegis of Association of Senior Civil Servant of Nigeria (ASCSN), has given tacit support to the government in the suspension of Gwarzo from the Commission, noting that it’s long overdue.
According to a release from ASCSN, signed by the Secretary General, Comerade Isaac Ojemhenke, they said the suspension of the embattled DG will enable the administrative panel of inquiry set by the government investigate and determine the culpability of Mr. Gwarzo and his cohorts.
“The capital Market, as we are aware, is very sensitive and strives on integrity. As the DG of the apex regulator of the Nigeria Capital market, who currently has several corruption allegations levied against him? It is extremely important that he clears his name from allegations for the purpose of integrity in the capital market.
“The sponsored report about Oando Plc forensic audit as being responsible for Mr. Gwarzo suspension is a deliberate and diversionary tactic to divert the public attention away from the weighty allegation bothering on corruption.
“The corruption against Mr. Gwarzo should be treated on its merit without any intermingling with any alleged interference by supervising Ministry.
“For the past two years, Mr. Mounir Gwarzo has fought the labour union in SEC and did everything possible to obliterate the union to enable him have free chance, without any checks. This is evidence in the corruption allegations.
The group reiterated that Gwarzo suspension from office is very clear as it bothers on serious breach of the rules governing parastatals of government, noting that “Attempt being made to change the narrative by bringing in the issue of forensic audit of Oando Plc is neither here nor there. The right thing has been done by the government and we support the action taken”.
“The Union appeals to President Buhari to as a matter of urgency constitute the Board of SEC”, it added.
