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ASCSN condemns plot to reinstate suspended DG of SEC

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Mounir Gwarzo, Director General Securities and Exchange Commission


The Association of Senior Civil Servants of Nigeria (ASCSN) has condemned calls for the reinstatement of suspended Director General of Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo.

It would be recalled that Mr. Gwarzo suspension by Minister of Finance after being indicted for financial improprieties and corruption to the sum of N150million while in service.The union in a statement signed by FCT Secretary, Isaac Ojemhenke, stated that a Panel of Inquiry report found him guilty of illegally enriching himself at the expense of the commission, and was asked to refund the alleged embezzled fund.

According to the statement made available to The Guardian, the body recalled how the House of Representative in its report equally upheld the suspension on the ground that Mr. Gwarzo has case to answer.

The statement read in part: “Till date, Mr. Gwarzo has not refunded any money to the coffers of SEC and this is adversely affecting the commission’s operation. Staff promotion has been outstanding for three years due to this.”The union submitted that the alleged planned reinstatement of Mr. Gwarzo by cabal would further dent the image of the anti-graft war of All Progressive Congress (APC) led Federal Government.

It added: “The union wishes to reiterate that offence committed by him are even more grievous than that of erstwhile Secretary to the Government of the Federation, Mr. Babachir Lawal who was relieved of post.”

The union stated that it is disturbing that government has refused to act despite overwhelming evidence to effect that Gwarzo paid himself N150 million as severance package and also awarded contracts to his firms.

The labour union restated its support to the anti-graft war as well as use the opportunity to appeal to President Muhammadu Buhari to as matter of urgency, reconstitute the Board of SEC.


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ASCSNMounir Gwarzo
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