Jonathan Appoints SEC Chairman, DG


President Goodluck Jonathan has appointed the former Governor of Anambra State, Dr. Peter Obi, as chairman of the nation’s securities and Exchange Commission (SEC) for the next four years.
This was made known yesterday by the President who acted to fulfill his earlier promise that SEC was not expected to be without permanent leaders due to the sensitive nature of its functions.
President Jonathan also approved the nomination of Mr. Munir Gwarzo as the substantive Director General (DG) of SEC for the next five years.
Gwarzo was appointed the acting Director General at the expiration of the tenure of the former DG, Ms Arunma Oteh.
By the present approval, Gwarzo’s position as the acting DG was now being upgraded to the DG of SEC according to the nomination by market stakeholders and approval of the President of the federation.
It would be recalled that President Jonathan during his visit to the Nigerian Stock Exchange (NSE) earlier this month said the commission would have a DG before the end of April, adding that having an acting DG would not give the sensitive commission an opportunity to perform its duties to the nation as the capital market regulators.
He also said that the commission’s work has a sensitive impact on the economic growth of the nation.