SEC Commends Gwarzo On Leadership


The Director General of the Security and Exchange Commission, SEC, Mr Mounir Gwarzo, has been described as a purposeful leader who had brought positive changes to the commission.

Mr  James Ume of the Communication department of SEC disclosed in an interview in Abuja that the DG had brought purposeful leadership that transformed the organisation for the better.

Ume said since the appointment of Gwarzo as the Director-General of SEC in May 2015, he had contributed immensely to the progress recorded in the commission.

He added that the DG had ensured transparency in the commission in the award of al contracts.

“The Public Procurement Act empowers the D-G as the Chief Executive Office of the Commission to approve contracts within certain thresholds.

“However, to ensure transparency in the procurement process of the Commission, the D-G has delegated every procurement exercise of the Commission to the Minor Tenders Board, completely excluding himself from the processes.

“Gwarzo also cut training cost: instead of sending staff abroad for training, he engaged the services of local trainers including the Lagos Business School,” he said.

Recently, Gwarzo was accused of getting paid the sum of N104 million being severance package having serves as a SEC commissioner prior to his appointment as DG.

Speaking on the allegation, Ume said Gwarzo was a member of the board of the commission for more than two years in the capacity of an Executive Commissioner of Operations Directorate before been appointed D-G.

“He is therefore entitled to all benefits as stipulated by the board members in July 2002 which he got because they are attached to the office and not necessarily to the individual who occupies the office.