Ebun Francis || The Administrative Panel of Inquiry set up to intervene in the conflict between the Minister of Finance, Mrs. Kemi Adeosun and the suspended DG of Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, has recommended the dismissal of Mr. Gwarzo, from the Public Service of the Federal Government.
The Panel also recommended that the suspended SEC Director-General be referred to the Independent Corrupt Practices Commission (ICPC) for further investigation of the allegation of using his position to influence the award of contracts to Outbound Investments Limited.
Presidency sources said the report further recommended that the former SEC DG refund the sum of N104,851,154.94 being the severance package he approved and received.
The report also noted Gwarzo’s holding of the position of DG of SEC as well as, director in two private companies (Medusa Investment Limited and Outbound Investments Limited) was in breach of public service rule 030424, public service rule 030402 and Section 6 of the Investment and Securities Act, ISA 2007.
Other issues of concern revolved around allegations that Gwarzo had diverted for personal use, three cars that the SEC had purchased as project vehicles.
The Panel, therefore, advised the Federal Government to re-orientate public servants to the very fact that the Public Service Rules and Financial Regulations are ground norms of every Government Service Contract, be it at the Federal, State or Local Government levels.