The many ‘sins’ of suspended SEC DG, Mounir Gwarzo: ‘How N1.7bn illegal payment, bank, CAC documents nailed him’
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More revelations of gross financial impropriety and abuse of office allegedly perpetuated by the suspended Director General of the Securities and Exchange Commission (SEC), Mounir Gwarzo, came to the fore on Thursday, justifying why the Administrative Panel of Inquiry (API) set up by the Federal Government recommended his dismissal from public service.

Top on the list of Gwarzo’s misconducts was the payment of N1.7 billion unapproved extra-budgetary spending as retirement benefits to 44 SEC workers in 2015, captured as “The Golden Handshake”.

Golden Handshake simply means paying off staff who voluntarily retire from service before their due date.

The money was neither appropriated by the National Assembly nor captured under any supplementary budget; a development that negates civil service rules.

More so, documents received by the Administrative Panel of Inquiry (API) and sighted by this newspaper reinforced the claim by a whistle-blower that the suspended SEC boss is a director and shareholder in two private companies even while in office. The companies are Medusa Investments Limited and Outbound Investment Limited.

Our checks reveal that Gwarzo had tendered a letter of resignation as Director of Medusa Investments Limited dated December 19, 2012, to the API while appearing before members of the committee in January 2018.

However, the actions taken by the former SEC boss in 2015 and 2016 however negated his letter of resignation as a director in Medusa Investments Limited (MIL).

Gwarzo, according to bank documents, had written a Wuse branch of a bank on July 24, 2015, requesting for change of account officer. His letter to the bank was signed in his name as a director of Medusa Investments Limited using the letter-headed paper of the company.

Furthermore, the suspended SEC Director-General on August 16, 2016, requested that Naira Mastercards be issued on Medusa Investments Limited’s account for himself and one Khadijat Gwarzo. The request conveyed by a board resolution of Medusa Investments Limited were signed by Mounir Gwarzo and Khadijat Mustapha

READ MORE HERE: http://witnessngr.com/the-many-sins-of-suspended-sec-dg-mounir-gwarzo-how-n1-7bn-illegal-payment-bank-cac-documents-nailed-him/

He is like a herdsman, untouchable. They will soon reinstate and promote him. Just watch!

That is Nigeria and the APC for you

He is covered na...watch as buhari makes sure nothing happens to him

Clearly Adeosun took the right decision.

Every action taken by majority of Nigerian politicians always have a secret agenda.

usba:
Clearly Adeosun took the right decision.

The children of hate, are still wailing.


Now, its, he's Fulani n will be reinstated, someone a member of ds govt n APC, kicked out of office o

corruption again.....and uptil now no DSS or EFCC on him....this country fit make one cry.....

Mounir Gwarzo and Khadijat Mustapha. These are the principal actors in this fraud.

From these names, is anyone in doubt who those 44 beneficiaries of the illegal payment are?

xxxxxx

Corruption cum corrupt acts in this regime tells a lot about the people therein.Nigeria have never seen it this worst with corruption.

Is he fulani?
If he is then Buhari's insurance covers him from EFCC and sack.

ashjay001:



The children of hate, are still wailing.


Now, its, he's Fulani n will be reinstated, someone a member of ds govt n APC, kicked out of office o

I have come to accept children of hate are dumb and malignantly stewpid beyond reason.

Omeokachie:
Is he fulani?
If he is then Buhari's insurance covers him from EFCC and sack.

He has been removed from office already. So, what insurance are you talking about?

seunmsg:



He has been removed from office already. So, what insurance are you talking about?

He was removed from office and Senate is holding a hearing?
Stay there until they pull another "Maina" on you.

Take it to the bank, that guy is returning to his post. They just don't want to rubbish Adeosun by not making it look too obvious.