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Association of Senior Civil Servants of Nigeria (ASCSN), has called on President Mohammad Buhari to reconstitute the board of the Securities and Exchange Commission (SEC) in line with global best practice.
The senior civil servants also urged President Buhari to direct that the report of the panel of inquiry set up by former Minister of Finance, Kemi Adeosun to probe allegations against former SEC DG, Mounir Gwarzo be released for necessary action.
These were contained in a statement by the association and signed by its Secretary General, Mr. Alade Bashir Lawal on Sunday in Abuja.
According to ASCSN, SEC has been operating without a board since 2015 and this has created very serious credibility gap and impacted negatively on the image and performance profile of the organisation.
“Players in the capital market both within and outside the shores of the country believe that with a board in place in the SEC, it will positively rub off on the growth and development of that critical sector of the nation’s economy.
According to ASCSN, it was the absence of a board at the SEC to oversee the management of the commission on a regular basis that led to the series of infractions that were witnessed during the tenure of suspended DG of SEC, Mounir Gwarzo.
“It is necessary to state that all those infractions would not have arisen if a board had been in place to supervise the operations of the Commission and also act as a check to the activities of the DG
“As it were, your Excellency, frantic efforts are now being made to sweep under the carpet the case established against Mounir Gwarzo which is currently lying before the Independent Corrupt Practices and other Related matters Commission (ICPC).
