The Director-General of the Securities and Exchange Commission (SEC), Mounir Gwarzo is in hot soup as a petition has been sent to the Federal House of Representatives on how he got a severance package of N104 million from the Commission shortly after he assumed office in 2015.

Mounir Gwarzo, Director General, SEC

“On assumption of office as the DG of the Commission, Mr. Gwarzo immediately requested that the sum of N104,851,154.94 (One Hundred and Four Million, Eight Hundred and Fifty-One Thousand, One Hundred and Fifty-Four Naira and Ninety-Four Kobo), be paid to him as severance package for the cessation of his appointment as Executive Commissioner of the Commission.”

“The requested severance package in the sum of N104,851,154.94 (One Hundred and Four Million, Eight Hundred and Fifty-One Thousand, One Hundred and Fifty-Four Naira and Ninety-Four Kobo), was paid by the Commission into Mr. Gwarzo’s bank account, held with Guaranty Trust Bank Plc, with account number 0023868895.”