The Minister of Finance, Mrs Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission (SEC), Mr Mounir Gwarzo.
Gwarzo is suspended in order to allow for an unhindered investigation of several allegations of financial impropriety leveled against the Director-General.
This was contained in a statement signed by Deputy Director, Press, Federal Ministry of Finance, Patricia Deworitshe on Wednesday, November 29.
The suspension is in line with the Public Service Rules (PSRs) 03405 and 03406.
The statement added that “The Minister has set up an Administrative Panel of Inquiry (API) to investigate and determine the culpability of the Director-General.”
“She has directed the suspended SEC Director-General to immediately hand over to the most senior officer at the Commission, pending the conclusion of the investigation by the API.
“Also suspended are two management staff of the Commission – Mr. Abdulsalam Naif Habu, Head of Media Division and Mrs. Anastasia Omozele Braimoh, Head of Legal Department – who have been alleged to engage in financial impropriety in the Commission.”