Some reports and facts have emerged on how the suspended Director General of the Securities and Exchange Commission, Mounir Gwarzo, paid N1.7bn as severance package to 44 members of staff of the commission without approval from the Minister of Finance, Mrs. Kemi Adeosun. The payment of the amount is one of the contraventions of financial regulations by the embattled SEC DG, which led to the recommendation of his dismissal.
According to the report of the Administrative Panel of Inquiry, the payment of the N1.7bn to the 44 members of staff of the commission as severance package was never provided for in the commission’s budget for 2015. He was said to have in 2015 introduced a voluntary exit scheme for members of staff willing to quit the service of SEC. The scheme christened, Golden Handshake, was designed to ease out members of staff voluntarily with attractive packages as benefits.
A top government official privy to the content of the report of the administrative panel told Punch, “In 2015, he single handedly without a budgetary provision paid N1.7bn to a set of staff under a golden handshake. By law, the DG of SEC is required to seek the approval of the Minister of Finance, even if there is a board in place. “They should have sought the approval of the minister, who, in turn will present it to the President and the request is sent to the National Assembly. But the suspended SEC DG went outside budgetary provision to effect the payment”
Contrary to the claim by Gwarzo that he had resigned from the board of Outbound Investment and Medusa Investment Limited, a copy of the resolution reached by the board of Medusa dated August 15, 2016, showed that he was still a director of the company. Gwarzo’s personal interest in the companies, according to the report, is a clear contravention of the regulation, which explicitly prohibits public officers from being in situations that bring their personal interests into conflict with their public duties.
Gwarzo had tendered a letter of resignation as a director of Medusa Investments Limited on December 19, 2012, to the API while appearing before members of the committee in January 2018. The panel in its report, however, said the actions taken by the former SEC boss in 2015 and 2016 negated his letter of resignation as a director in Medusa. For instance, it was stated that based on bank documents , Gwarzo had written a Wuse branch of a bank in Abuja on July 24 , 2015, requesting for a change of account officer.
According to Punch, his letter to the bank, was signed in his name as a director of Medusa Investments Limited. The API had in its report recommended the sacking of the embattled DG from the public service. A final decision on the report is being awaited from the Federal Government. When contacted by Punch, Gwarzo said in a text message that the claim that he paid the sum of N1.7bn severance package to staff members without approval was untrue.
He stated, “It’s not true; please discuss with the Board Secretary of the commission and they will show you the board approval. We have also provided explanations to both the ICPC and EFCC and got clearance on the issue signed by the former Chairman of ICPC. “And let’s also state that at that time we had a board thus, we did not require the approval of the minster and the board approved it.”
Tony Elumelu Donates Technology Centre To AAU
Chairman of UBA Group, Tony O. Elumelu, has made the donation of a multipurpose information technology center to his alma mater, Ambrose Ali University.
Through the UBA Foundation, the corporate social responsibility arm of the United Bank for Africa Plc (UBA), Elumelu has championed the construction of a state-of-the-art multipurpose information technology building, which will benefit the students of Ambrose Alli University in Ekpoma, Edo State. The hall, to be named The Tony O. Elumelu multipurpose hall, is furnished with computers, desks, and chairs measure 839 square meters and have adjoining offices and conveniences.
Elumelu highlighted his motivation: “Education is crucial to Nigeria’s human capital – whether our young people join our national institutions, the private sector or, as I did, take the entrepreneurial path, no one can afford to be cut off from the digital world. It has been a personal mission to ensure that the hall was delivered to specification, for the benefit of the students at the AAU. Success brings with it the duty to give back, and I am just grateful that I am now in a position to meaningfully help the next generation”.
The multipurpose hall was formally handed over to the University, at a ceremony attended by members of the University’s governing council and staff, led by Vice-Chancellor, Prof Ignatius Onimawo.
Speaking at the commissioning, UBA’s Directorate Head, South Bank, Mr. Chris Ofikulu, who represented the UBA Group Chairman, highlighted the contribution of UBA, through its Foundation, to education and development across Africa.
‘As a pan-African bank, operating in 20 countries across our continent, UBA is committed to being a socially responsible institution, and a role model for businesses in Africa. The UBA Foundation actively promotes the socio-economic improvement of the communities in which UBA operates, with a particular emphasis on development in the areas of “Education, Environment, and Economic Empowerment”. We believe in intervening and building capacity within communities, facilitating projects that will act as catalysts for social and economic development’ he stated.
“Tony Elumelu is a product of this great university and is conscious of the need to give back and there is no substitute for world-class educational infrastructure, and this is what has informed the construction of these facilities, that will help equip the future leaders of our great nation Nigeria,” he said.
The AAU Vice-Chancellor, Prof Ignatius Onimawo, who expressed his heartfelt gratitude towards the gesture by the UBA Group Chairman, noted that one of the most pressing needs of the University for 2020 had been met, and thanked UBA and Mr Elumelu.
He challenged students to make proper use of the facilities provided by UBA and to ensure that they emerge great leaders and mentors like Elumelu, whose commitment to catalyzing entrepreneurial growth across Africa, through the Tony Elumelu Foundation, and institutionalizing African philanthropy, had created a strong positive role model. ‘We at Ambrose Ali university are so proud of our son Tony Elumelu and every time we see him doing good across Africa, we feel joy and accomplishment’ said Onimawo.
Nigerian Bottling Company Appoints Matthieu Seguin As Managing Director
Non-alcoholic beverage giant, Nigerian Bottling Company Limited (NBC) has announced the appointment of Matthieu Seguin as the company’s Managing Director effective October 3, 2019. Seguin succeeds George Polymenakos who was appointed in August 2016.
Until his appointment, he was the General Manager for Coca-Cola HBC Ireland & Northern Ireland for almost 4 years.
According to a company statement signed by the Public Affairs and Communications Director, Mr. Ekuma Eze, Seguin will lead the organization and it’s over 2,700 employees to deliver growth, business optimization, and profitability for Coca-Cola Hellenic Business in Nigeria.
Eze stated that Seguin is a thoroughbred professional with multi-industry experience and a remarkable track record in business turnaround as well as a strong passion and commitment for people development, having served in different capacities in top management positions.
He further disclosed that Seguin is not new to the company nor the Nigerian business environment, having previously worked in Nigerian Bottling Company as the Commercial Director between 2011 and 2016.
Seguin joined Coca-Cola HBC in December 2009 as Group International Customer Director. In May 2011, he was appointed the Country Commercial Director for Nigerian Bottling Company. Before this, he had worked with Procter and Gamble for almost 18 years in different commercial roles across Europe, Middle East & Africa.
During his time as General Manager for Coca-Cola HBC Ireland and Northern Ireland, Seguin led the organization through a period of considerable success, delivering profitable growth through a focus on prioritization, simplification and team development.
Matthieu Seguin is an alumnus of the INSEAD School of Business, IMD Business School and Ecole de Management de Normandie. He has served on various boards including as Member of Board of Repak Ireland; Member of the IBEC National Council and Chairman of Food Drink, Ireland’s Prepared Consumer Foods Council.
Public Affairs and Communications Director
Aimart Realtors To Reward Customers In Season’ Promo Draws
Aimart Realtors, one of Nigeria’s premium real estate management and development company, will be hosting the grand finale of her special season’s promo on the December, 14th, 2019. The event which will take place at Air force Officers Mess, No 1 kofo Abayomi Lagos will see winners emerge from various categories of a promo many observers regard as top-notch in this season of a giveaway.
The current Aimart Realtors Promo does not just have huge reductions in the prices of houses and plots of land at all Aimart estates in Ibeju-Lekki and Lagos Mainland, there is a special top-up as customer who makes deposits for any package will smile home with lots of goodies to celebrate this year’s yuletide holidays and new year season.
In a statement issued by the company, the Managing Director Mrs. Oluwabukola Iluyomade, stated that the organization wants to excite all Nigerians during this season as they take advantage of the heavy discount on various packages in all their estates across different parts of Lagos.
In her words, “the vision of Aimart Realtors is to be a one-stop solution in the global real estate business. Besides, we are equally poised to provide precise, accurate and affordable real estate services that guarantee human dignity, wealth creation, and preservation for our esteemed customers.
“As the season approaches, we decided to provide this icing on the cake for all, right from the first day of October we started the promo till this December that we are ending this special promo”
She added that the excitement of this event is meant to wow everyone and set the stage for a bigger, better and fun-filled new year,
Since its establishment years ago, Aimart Realtors has successfully provided client-oriented solutions and real estate portfolios that offer optimized shelters for both individuals and businesses.
Over time, the company has remained consistent with its vision as “a one-stop solution provider in the global real estate business” and thus continues to design, conceptualize, build and manage decent and affordable residential, office, commercial accommodations that are excellent for habitation and investment.
The company has also created a top-notch standard in delivering worry-free-homes to customers at home and in the diaspora. Giving optimum value to virtually all her clients.
In all her jobs and activities, Aimart Realtors has maintained a clean record of delivering exceptional services in all areas of land documentation, survey plan, C of O and gazette processing and these have kept customers coming back with great satisfaction.
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