But checks by Economic Confidential reveal that the suspended SEC boss had earlier replied to the query of allegations of financial impropriety leveled against him since it first came to light in January this year, adding that officials of SEC had repeatedly visited the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to respond to the allegations.
Further checks also reveal that Gwarzo had even sent a memo to the Minister of Finance in October, absolving himself of financial impropriety and award of contracts to his company but got no response from Adeosun on the issue until his sudden suspension.
Investigation this intelligent magazine also show that Gwarzo had issued clarifications on the severance pay because it was backed by the provisions of ISA.
“Gwarzo was appointed an executive commissioner on January 2, 2013 and his letter of appointment made it expressly clear that his appointment was for four years.
“To assume the position, he was duly screened and confirmed by the Senate. So, by the time he was again appointed the Commission’s DG on May 20, 2015 by former President Goodluck Jonathan, he again had to go through the same Senate confirmation for the new appointment.
“His letter of appointment as SEC DG stated that his position was for five years, which means it was a fresh appointment and by extension signified his retirement as an executive commissioner or SEC.
“So, when he was paid the N104 million as severance package, it was in compliance with the provisions of ISA, as he had retired as an executive commissioner and was appointed in a new role as the SEC DG.”
On the allegations of being a Director at Medusa Investment Ltd., Gwarzo had mentioned in his letter to the Minister that “Medusa Investment Ltd happened to be a company owned by family members and used to be a director in the company but upon my appointment as Executive Commissioner, I resigned from the company on December19th, 2012.
On the award of contract to the same company, since joining SEC as either Executive Commissioner of the DG, he replied that he was not aware of any contract awarded by SEC to the firm, just as he said Medusa ltd had not rendered any service to the Commission during his tenure as a staff, Executive Commissioner or the DG.
On the recruitment exercise carried out by SEC, he maintained that all due processes were duly followed in both senior and junior staff categories. He noted that the Federal Character Commission waivers of advertisement letters approvals including the certificates of compliance were sought before the commission embarked upon the exercise.
