FG suspends SEC DG, Gwarzo and two others

The Minister of Finance, Mrs. Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission (SEC), Mounir Gwarzo.

This was disclosed in a statement signed by Patricia Deworitshe, Deputy Director Ministry of Finance.

According to the statement, the suspension is in line with the Public Service Rules (PSRs) 03405 and 03406 to allow unhindered investigation of fraud allegations leveled against the Gwarzo.

The Head of Media in SEC, Mr. Abdulsalam Naif Habu and the Head of Legal Department, Mrs. Anastasia Omozele Braimoh, have also been suspended.

“The suspension is in line with the Public Service Rules (PSRs) 03405 and 03406.”

“The Honourable 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 handover to the most senior officer at the Commission, pending the conclusion of investigation by the API.

“Also suspended are two management staff of the Commission – Abdulsalam Naif Habu, Head of Media Division and Anastasia Omozele Braimoh, Head of Legal Department – who have been alleged to engage in financial impropriety in the Commission.”

The minister also set up an Administrative Panel of Inquiry (API) to investigate the culpability of Gwarzo in the matter.