MOUNIR GWARZO, DG SEC, 2 OTHERS SUSPENDED

ABUJA, Nigeria – Minister of Finance, Mrs. Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir H. Gwarzo, from Office.

The suspension is to allow for an unhindered investigation of several allegations of financial impropriety leveled against him.

The suspension according to a statement by Deputy Director, Press in the Ministry of Finance, Mrs. Patricia Deworitshe is in line with the Public Service Rules (PSRs) 03405 and 03406.

She said the Honourable Minister has set up an Administrative Panel of Inquiry (API) to investigate and determine the culpability of the Director-General.

She said the minister has also 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 – Mr. Abdulsalam Naif Habu, Head of Media Division and Mrs. Anastasia Omozele Braimoh, Head of Legal Department – who have allegedly engaged in financial impropriety in the commission.