by Admin | Nov 1, 2017 | Blog |
Follow @NigeriaPI Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir Haliru Gwarzo, It can exclusively reveal, has perpetrated a variety of fraudulent activities since his appointment by former President Goodluck Jonathan for a first term of five years on May 22, 2015. Prior to being appointed successor to Ms. Aruma Otteh as SEC Director-General (DG), Mr. Gwarzo was an Executive Commissioner of the commission. Signs of Mr. Gwarzo’s crooked ways manifested almost immediately he resumed as DG. Documents exclusively obtained showed that on May 26 2015, four days after receiving his letter of appointment, Mr. Gwarzo requested that he be paid the sum of N104.8 million as severance package in respect of the end of his appointment as Executive Commissioner, a position he occupied for two years and four months. The request, made via a memo dated May 26, 2015, was referred to Mr. Chukwuogor Frana, acting Head of the commission’s Legal Department, for consideration and advice. Responding in a memo dated May 27 2015, Mr. Frana advised against honoring the request made by Mr. Gwarzo, arguing that the fact that he remains in the employ of SEC disentitles him to a severance package. Citing an extract of the SEC Board meeting held on July 11 2002, Mr. Gwarzo had argued that he was entitled to a severance package. While offering advice matter, Mr. Frana wrote: “The extract, however, does not contain the term ‘severance benefits.’ Therefore, to give an opinion on this matter, it is impossible to determine the purpose and scope/application of this extract.” Mr. Frana also drew attention to the fact that opening line...
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