Adeosun Suspends SEC DG, 2 Others Over ‘Financial Impropriety’

The Director General of the Securities and Exchange Rate Commission, SEC, Mounir Gwarzo, alongside two management staff of the Commission have been suspended.

The Minister of Finance, Mrs. Kemi Adeosun, who made the announcement on Wednesday suspended Gwarzo, Mr. Abdulsalam Naif Habu, Head of Media Division and Mrs. Anastasia Omozele Braimoh, Head of Legal Department over alleged financial impropriety.

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The minister said the suspension is to allow for an unhindered investigation of several allegations of financial impropriety levelled against the Director-General.

The Minister also set up an Administrative Panel of Inquiry (API) to investigate and determine the DG’s culpability.

She further directed Gwarzo to immediately handover to the most senior officer at the Commission, pending the conclusion of investigation by the API.

Recall that the DG was recently accused of pocketing a severance package of N104 million from the SEC shortly after he was named DG in 2015.

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According to a petition sent to the House of Representatives, Gwarzo was said to have paid himself the amount as entitlement for being an executive commissioner for two and a half years.

 

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THE WHISTLER reached out to Gwarzo via a text message and the SEC DG confirmed the development to our correspondent.

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