Forensic report against SEC DG to be ready before month end
The administrative panel of inquiry set up by the Minister of Finance, Mrs. Kemi Adeosun, to investigate corruption allegations against the suspended Director-General of the Securities and Exchange Commission, Mr. Mounir Gwarzo, is to submit its report before the end of the year.
Adeosun had two weeks ago suspended Gwarzo and two managers of the commission over allegation of financial impropriety levelled against him.
The minister had also raised a panel to investigate and determine the culpability of the suspended DG.
A top government official who confided in our correspondent said that the committee had commenced its investigations and had invited key players in the corruption allegations against the embattled DG.
The official who spoke with correspondents on condition of anonymity as he was not officially permitted to talk on the matter said, “There have been series of allegations bordering on corrupt practices at the commission from various quarters and that was why the minister set up a panel and suspended the SEC DG to allow the committee to effectively carry out its assignment.
“The committee would look at all the allegations and we expect it to submit the report of its findings within four weeks.”
The panel, in carrying out its assignment, is expected to invite nine firms alleged to have been used by Gwarzo to siphon funds from the commission.
The report of the panel is expected to be sent to the Independent Corrupt Practices and Other Related Offences Commission, which is also investigating Gwarzo.
The firms are Outbound Investment Limited, Medusa Investment Limited, Northwind Environmental Services, Micro-Technologies Nigeria Limited, Tida International Limited, Outlook Communication, Acromac Nigeria Limited, Balfort International Limited and Interactive Worldwide Nigeria Limited.
According to the petitions against Gwarzo, some of the companies allegedly belong to him or his relatives.
In one of the petitions, it was alleged that one of the companies, Outbound Investment Limited, is owned by the suspended SEC boss; while another firm, Medusa Investment Limited, is jointly owned by Gwarzo and his wife, Khadija.
Meanwhile, the acting Director-General, SEC, Dr. Abdul Zubair, has approved the redeployment of some workers in the commission.
The move, according to the commission’s officials, is part of measures aimed at repositioning SEC for effectiveness following the suspension of Gwarzo from office as the DG.
Our correspondent gathered on Friday in Abuja that the redeployment of some officials in the commission by the acting DG was to allow for unhindered investigations of the allegations levelled against the embattled DG and the other management staff.
Some of the departments affected by the redeployment are the Investigation Division, Mergers and Acquisition Division, Procurement Division and office of the Director-General.
Findings further revealed that about four officials of the commission in mergers and acquisitions division were moved.
Similarly, three officials in the Procurement Division were redeployed while all the members of staff in the Office of the DG were affected by the redeployment.
Adeosun had during a chat with journalists stated that the ministry was in possession of incriminating records against Gwarzo.
She said Gwarzo’s suspension followed proven cases of financial misconduct, unlawful carting away of sensitive documents, in addition to his unsatisfactory response to queries served him.
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