Published On: Thu, Dec 7th, 2017

SEC: Gwarzo’s suspension long overdue -ASCSN

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…salutes Buhari’s timely intervention

By Etuka Sunday

Association of Senior Civil Servants of Nigeria (ASCSN) yesterday said that the suspension of the Former Director General of Securities and Exchange Commission (SEC), Mounir Gwarzo was long overdue.
The Association declared full support for the suspension of Gwarzo on the allegations of corruption and praised the timely intervention of President Muhammadu Buhari on the matter.
ASCSN in a statement signed by Comrade Isaac Ojemhenke , ACA, for Secretary General said, the action was necessary to enable the administrative panel to inquire, investigate and determine the culpability of Mr. Gwarzo and his cohorts.
It said: “the capital market as we are all 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 these 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 corruption.
“The corruption allegations against Mr. Gwarzo should be treated on its merit without intermingling with any alledged interference by supervising ministry,” the statement said.
ASCSN said, “for the past two years, Mr Mournir 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 evidenced in the corruption allegations.
“The jubilation in the commission that greeted the announcement of Mr. Gwarzo’s suspension was more than the one in Zimbabwe when Mugabe was removed from power.
“The Union rejects in its entirety the attempt being made in some quarters to restore Mr. Gwarzo back to office.
“The issue of Mr. Gwarzo’s suspension from office is very clear as it bothers on serious breach of the rules governing parastatals of government. 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 taken.
“The Union appeals to His Excellency, President and Commander-in-chief of the Federal Republic of Nigeria. Muhammadu Buhari to as a matter of urgency constitute the Board of the Securities and Exchange Commission,” the statement said.

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