SEC Director-General, two others suspended for alleged financial impropriety

The Honourable Minister of Finance, Mrs. Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir H. Gwarzo, from Office, to allow for an unhindered investigation of several allegations of financial impropriety levelled against him.

According to a press statement by the ministry signed by its Deputy Director, Press, Patricia Deworitshe, the suspension is in line with the Public Service Rules (PSRs) 03405 and 03406.

The statement explained further 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 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 been alleged to engage in financial impropriety in the Commission.