FG suspends SEC DG, Gwarzo two others over alleged financial corruption
The Director-General of the Securities and Exchange Commission, Mounir Gwarzo, was Wednesday suspended by the Finance Minister Kemi Adeosun following allegations of financial impropriety leveled against him.
Also suspended were two management staff members of the commission. They are the Head of the Media Division, Mr. Abdulsalam Naif; and the Head of Legal Department, Mrs. Anastasia Braimoh. They were also alleged to have engaged in financial impropriety.
A statement signed by the Deputy Director of Press in the Ministry of Finance, Mrs. Patricia Deworitshe, Adeosun noted that the suspension became necessary to allow for unhindered investigations of the allegations leveled against the embattled DG and the two other officials.
According to the minister, the suspension was in line with the Public Service Rules 03405 and 03406.
Adeosun, according to the statement, has also set up an administrative panel of inquiry to investigate and determine the culpability of the suspended DG.
She also directed the suspended DG to immediately hand over to the most senior officer at the commission, whom our correspondent gathered was one Abdul Zubair, the Director of Corporate Affairs, pending the conclusion of investigation by the API.
The statement read in part, “The Minister of Finance, Mrs. Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission, Mr. Mounir Gwarzo, from office to allow for an unhindered investigation of several allegations of financial impropriety levelled against the director-general.
“The suspension is in line with the Public Service Rules 03405 and 03406.
“The minister has set up an Administrative Panel of Inquiry 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 investigation by the API.”