President
Buhari has forwarded a letter to the Nigerian Senate, seeking the confirmation
of Mr Lamido Yuguda as new Director-General of the Securities and Exchange
Commission (SEC).
The request
letter from the President was read on the floor of the Senate by the Senate
President, Ahmad Lawan, during plenary today May 19.
The letter in
part reads
“PURSUANT TO
SECTION 3 AND 5(1) OF THE INVESTMENT AND SECURITIES ACT 2007, I WRITE TO
REQUEST FOR CONFIRMATION BY THE SENATE, THE APPOINTMENT OF THE FOLLOWING FOUR
NOMINEES AS DIRECTOR-GENERAL AND COMMISSIONERS OF THE SECURITIES AND EXCHANGE
COMMISSION (SEC). THEIR CVS ARE ATTACHED HEREWITH.”
Others for
confirmation as full-time commissioners are Reginald Karausa, Ibrahim Boyi, and
Obi Joseph.
Yuguda is to
take over from Mounir Gwarzo who was suspended by former Finance Minister, Kemi
Adeosun, for allegedly approving the sum of N104 million for himself as
severance package for being a former commissioner of SEC. He was also accused
of using his office to award contracts to members of his family and friends, in
violation of the rules guiding the commission, an allegation he denied. A
Federal High court struck out the charges against him. He was later reinstated
into office following an order from The National industrial court but he never
returned.
A look at the
incoming DG’s CV shows he obtained a bachelor of science degree in accounting
from Ahmadu Bello University, Zaria, in 1983 and a master’s in money, banking,
and finance from the University of Birmingham, United Kingdom in 1991. He also
holds a certificate in financial asset management and engineering from the
Swiss Finance Institute, Geneva, Switzerland.
He began his
career with the CBN as senior supervisor, foreign operations department in 1984
with responsibility for maintaining Nigeria’s external debt records.
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