The investigative panel set up by the Minister of Finance, Kemi Adeosun to probe the allegations of corruption levelled against the suspended Director-General of the Securities and Exchange Commission (SEC), Mounir Gwarzo has recommended his dismissal from the nation’s public service.

The panel headed by Mahmoud Isa-Dutse, the Permanent Secretary of the Ministry of Finance also asked Gwarzo to refund the sum of N104, 851,154 severance package he approved for himself.

Gwarzo was an Executive Commissioner at SEC before former President Goodluck Jonathan appointed him to lead the commission on May 22, 2015. Soon afterwards, he approved the package for himself in entitlements for being an Executive Commissioner for two and half years.

Gwarzo’s travails began after a group wrote a petition to the House of Representatives accusing him of abusing his office following the opposition mounted by the Acting Head of the Legal Department of SEC, Mr. Frana Chuwuogo.

In the petition, Gwarzo was accused of awarding contracts to his friends and family members in violation of the rules governing the commission as well as using companies in which his family members were shareholders to carry out illegal transactions.

When Adeosun suspended Gwarzo, he accused her of punishing him because he failed to stop the audit of Oando as requested by the minister, an allegation which she denied.