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Finance Minister, Adeosun, orders the suspension of SEC DG, 2 others over alleged financial scam

The 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 leveled against him.

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

It said the minister has set up an Administrative Panel of Inquiry (API) to investigate and determine the culpability of the DG.

“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,” the statement said.