Jonathan Confirms Gwarzo DG SEC, Sacks NHIS ES, Appoints Obi Chairman SEC.

Yemisi Izuora

Last minute political appointment by President Jonathan has seen the confirmation of Mr. Mounir Haliru Gwarzo as Director-General of the Securities and Exchange Commission (SEC)

Also the outgoing president compensated former governor of Anambra state Mr. Peter Obi by appointing him, the chairman of SEC.

Mr. Gwarzo who has been acting as Director-General of the Commission, was appointed to the Board of the Securities and Exchange Commission as Executive Commissioner in January, 2013.

President Goodluck Ebele Jonathan has also relieved the Executive Secretary/Chief Executive Officer of the National Health Insurance Scheme (NHIS), Dr. Femi Thomas of his appointment with immediate effect.

The President has also approved the appointment of Mr. Olufemi A. Akingbade as Acting Executive Secretary/Chief Executive Officer of the NHIS.

Mr. Akingbade who hails from Ekiti State and holds a Bachelors Degree in Computer Science as well as a Masters in Business Administration was the General Manager, ICT in the NHIS until his new appointment.

Mr Obi’s appointment was announced on Monday. According to the presidency, his appointment takes immediate effect.

This is the latest appointment by the out-going president who just last week sacked Sulieman Abba as Inspector General of police and announced Solomon Arase as his replacement.

Also in mid-march Jonathan appointed Samuel Ogungbesan as Acting Executive Chairman of the Federal Inland Revenue Service (FIRS) after relieving Alhaji Kabiru Mashi of his duties

It is believed that Gwarzo has all it takes to successfully steer the affairs of the COMMISSION  and move the MARKET to the next level.

Born 51 years ago, he graduated 27 years ago with a Bachelors Degree in Economics from Bayero University Kano and later went to the University of Birmingham in the United Kingdom where he did his post-graduate studies in Development FINANCE.

He trained as a stockbroker and qualified as an Associate member, CIS and became a fellow of the Institute.  He is a faculty member of the Nigerian CAPITAL MARKET Institute.

He has the unique exposure of working as an operator and regulator in both the primary and secondary segments of the Nigerian capital market, which puts him in a vantage position of knowing both sides of the market.

He rose from an entry level of a graduate to become a general manager and now has a minimum 21 years working experience in the Nigerian capital market.

Gwarzo was appointed on January 2, 2013 into the Board of SEC as Executive Commissioner, Operations by President Jonathan. He became the acting DG SEC last January and was also elected as the Chairman, African and Middle East Regional Committee (AMERC) of the International Organisations of Securities COMMISSION (IOSCO) in February.

His working career spans a period of 26 years in various organisations namely:  Ministry of Trade, Kano State, the NSE, Century Merchant Bank, Empire Securities Limited, SEC, Federal Mortgage Bank of Nigeria and MTL Global INVESTMENT Limited.

In the course of his career, he delivered not less than 25 papers at different seminars and workshops and served in over 18 committees as chairman or member and received commendations from several people including former Minister of Works and Housing, Hajiya Halima Alao, and the Coordinator, SAID Business School, Professor Johri Lahlit.

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