Director General of SEC outed for Corruption

Director General of SEC outed for Corruption


Bamigbala Adekola

“The attention of the Centre for Anti-Corruption and Open Leadership (CACOL), has been drawn to the large scale abuse of office and gross official recklessness of the Director General of the Securities and Exchange Commission (SEC), Mr Mournir Haliru Gwarzo, who by our investigations, have engaged in a series of anti-establishment manipulations to enrich himself through acts that are at variance with civil service rules and regulations.

“Our organisation, the Centre for Anti-Corruption and Open Leadership (CACOL), is an aggregate of human rights; community based and civil society organisations and individuals with anti-corruption and openness in governance agenda across Nigeria. It is a non-political, non-religious, non-sectional and non-profit making organisation.

“We set for ourselves the tasks of promoting accountability, openness in governance and using any available means to cause relevant authorities to probe and bring to book, corrupt leaders both in public and private institutions.

“We also strive to protect the interest of persons or groups found to be victims or potential victims of corrupt practices or processes of manipulation and violation of human rights. The decision to embark on the journey was taken in 2007 in view of the need to confront, once and for all, the monster that is ravaging all facets of our national life in Nigeria – CORRUPTION.

“It is in view of our commitment to the fight against corruption that we present the perceived official excesses and acts of corruption perpetrated by Mr Mournir Haliru Gwarzo before you.”

The Issues:
“On January 2, 2013, Mr Mournir Haliru Gwarzo, was appointed an Executive Commissioner in the Securities and Exchange Commission for a four year tenure by the then administration of President Goodluck Jonathan. Before the expiration of the four year deal, Gwarzo was elevated by the same government as the Director General of the Commission on May 22, 2015.

“But consequent upon resumption of office as the Director General of SEC, Mr Gwarzo, ordered the payment of a severance benefit to himself to the tune of N104,851,154.94 (One hundred and four million, eight hundred and fifty one thousand, one hundred and fifty four naira and ninety-four kobo.

“We view this development as a total disregard of the standing rule in the civil service, that states that severance benefit can only be paid to an employee who has concluded his or her service and has completely disengaged from service; not to an employee who has been promoted within the Commission as is in the case of Mr Gwarzo.

“CACOL will also want you to look into the allegations of illegal creation of wealth from the SEC by Mr Gwarzo.

“It is alleged that Mr Haliru Gwarzo runs SEC as his personal estate and appointed companies with links to him and some of his rookies in office to carry out transactions and provide services to the Commission.”

Some of the Companies listed to have links with Mr Gwarzo are:
1. Outbound Investment Ltd, RC NO. 807317
2. Medusa Investments Limited, RC NO. 326829
3. Northwind Environmental Services. REG NO BN2389176
4. Micro-Technologies LTD RC NO. 173805
5. Tida International Ltd RC NO. 26414
6. Outlook Communications
7. Acromac Nig Ltd RC NO. 10687864
8. Balfort International Investment Ltd RC NO. 109153
9. Interactiven Worldwide Nig Ltd RC NO. 779442

“We are bold to say that the personal interest of Mr Gwarzo in the above listed companies clearly contravenes the provisions of the Nigerian law which distinctively prohibits public officers from putting themselves in situations where their personal interest conflicts with their public duties

“It is in view of these noted discrepancies that we urge you to institute a committee to beam searchlights on the activities of Mr Mournir Haliru Gwarzo as the Director General of the Securities and Exchange Commission.

“Herewith attached are some of the documents at our disposal wherefrom the above-enumerated issues were teased out. We are, however, at your service to provide more documents that may be necessary to facilitate a prompt delivery on your investigation at any point we are called upon for such assistance.

“Please accept our esteemed regards as we look forward to your decisive intervention in unearthing the issues raised here with strict compliance with the rule of law.

Executive Chairman CACOL, Comrade Debo Adeniran, submitted that we have officially informed the President,Senate President,Speaker and all relevant agencies about this development”

Happenings Media