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Suspended SEC DG: Keyamo Demands Release of Probe Report

By Dipo Olowookere

Lagos-based lawyer, Festus Keyamo (SAN), has requested that the report of the investigation panel set up to probe the suspended Director General of the Securities and Exchange Commission (SEC), Mr Mounir Gwarzo, be made public.

In a letter dated January 24, 2018, and addressed to the Administrative Panel of Inquiry, Minister of Finance, Acting Chairman of the Economic and Financial Crimes Commission, and Chairman of the Independent Corrupt Practices and Other Related Offences Commission, Mr Keyamo demanded that the probe report be made public.

Failure to do so, noted the Senior Advocate of Nigeria in the letter titled ‘Re: The Investigation of the Suspended Director-General of the Securities and Exchange Commission: A Request for the Investigation Report to be made public’, will reinforce the perception that the anti-corruption crusade has been bedevilled by politics and ethnicity.

Minister of Finance, Mrs Kemi Adeosun, had on November 29, 2017, suspended Gwarzo over allegations of financial impropriety levelled against him.

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An Administrative Panel of Inquiry to investigate and determine the director-general’s culpability was set up the same day his suspension was announced.

But almost two months after the ex-SEC DG was suspended alongside two management staff members of the commission, Abdulsalam Naif (Head of Media) and Anastasia Braimoh (Head of Legal Department), nothing has been heard about the probe panel or its report.

in the letter on Wednesday, Mr Keyamo said, “It is disheartening that several weeks after the Administrative Panel of Inquiry was established, Nigerians who have been patiently expectant, are yet to be informed of the Report of the Investigation or indeed the progress of the said Inquiry.

“I had expected that the investigation will be swift and thorough as the issues raised touch on the twin evils of corruption and impunity. Despite the inordinate delay, I am still confident that the investigations have not been compromised.

“I am by this letter kindly requesting that the Investigation Report be made public irrespective of whose ox is gored as this would help correct the perception that the anti-corruption crusade has been bedevilled by politics and ethnicity.

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“Nigerians deserve to know the truth and the falsehoods in the allegations and counter-allegations that have characterized the investigations into the activities of the DG of SEC and Oando Plc.”

In an earlier letter written to the Investigation Panel on December 5, 2017, the senior lawyer had asked the panel to ascertain if the: “Suspended DG of SEC pay to himself the sum of N104,851,154.94 as ‘severance benefits’ for his elevation from Executive Commissioner of SEC to DG of SEC despite not having completed his tenure as Executive Commissioner in contravention of Section 1 of the Code of Conduct for Public Officers set out in the Constitution of the Federal Republic of Nigeria and Section 19 of the Corrupt Practices and Other Related Offences Act?

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“Did the suspended DG of SEC award contracts to companies like Outbound Investment Limited, Northwind Environmental Services and Micro-Technologies Nigeria Limited in which he and his cronies are both directors and shareholders in contravention of Section 1 of the Code of Conduct for Public Officers set out in the 5th Schedule of the Constitution of the Federal Republic of Nigeria ,Section 101 of the Criminal Code Act Cap C38 Laws of the Federation and Section 19 of the Corrupt Practices and Other Related Offences Act?

“Did the suspended DG of SEC divert for his personal use the vehicles belonging to the Securities and Exchange Commission despite receiving the sum of N84,388,886.00 as monetized car grant/allowance for four cars in contravention of Section 1 of the Code of Conduct for Public Officers set out in the Constitution of the Federal Republic of Nigeria and Section 19 of the Corrupt Practices and Other Related Offences Act?” Keyamo asked.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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