The Senate has unanimously confirmed the nomination of Mallam Mounir Haliru Gwarzo as the Director General of the Securities and Exchange Commission, SEC at plenary on Wednesday May 13.
The confirmation, by unanimous decision, followed consideration of the screening report of the Senate Committee on Capital Market headed by Senator Ayo Adeseun which affirmed Gwarzo as the best candidate for the position.
The Committee had earlier screened Gwarzo and expressed its satisfaction with his nomination and therefore called on the whole house to confirm his nomination by President Goodluck Ebele Jonathan.
Thereafter, some members of senate including the three senators from Kano State (Gwarzo’s state of origin), Senators Bello Dalhatu Gwarzo, Kabiru Gaya and Bashir Garba Lado also spoke in favour of confirmation of the new DG of SEC.
Senate Leader, Senator Victor Ndoma-Egba and a former Chairman of the Senate Committee on Capital Market, Senator Ganiyu Solomon from Lagos also openly supported his nomination before the Senate President, Senator David Mark put the motion for his confirmation before his colleagues.
The motion was then unanimously supported without a single opposition.
In his comment, Senator David Mark described Gwarzo as ‘’a round peg in a round hole’’ and expressed the hope that he would bring his experience to bear on the job.
A fellow of Chartered Institute of Stockbrokers (CIS), Mounir Gwarzo was born 52 years ago in Kano.
He attended Bayero University, Kano and graduated with Bachelors Degree in Economics in 1987. He later went to the University of Birmingham in United Kingdom where he did his Post Graduate course in Development Finance in 1991.
He was trained as a Stockbroker and qualified as an Associate member, Chartered Institute of Stockbrokers (CIS) and in 2005 became a fellow of the Institute.
His working career spans a period of Twenty Five (25) years in various organizations namely; Ministry of Trade, Kano State, The Nigerian Stock Exchange (NSE), Century Merchant Bank Limited, Empire Securities Limited, The Securities and Exchange Commission, Federal Mortgage Bank of Nigeria and MTL Global Investment Limited, prior to joining the Board of SEC.
He had the unique opportunity of working as an operator and regulator in both the primary and secondary markets of the Nigerian Capital Market, and out of his 25 years working experience, Twenty (20) were spent in The Nigerian Capital Market.
He attended several courses both home and abroad among which are; The Securities Market Regulation which is the leading training program in securities regulation in the world by The U.S. Securities and Exchange Commission, Development of Bonds Markets in Johannesburg, South Africa, Assets Backed Securities and Mortgage Securitization in Singapore, Operational and Credit Risk Management in Dubai and Advanced Management Programs (AMPS) at INSEAD (The Premier Management Institute in Europe), Paris as well as at SAID Business School Templeton College, University of Oxford, UK.