SEC suspends DG Gwarzo, two others for financial improprieties


THUR, NOVEMBER 30 2017-theG&BJournal-The Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo has been suspended following allegations of financial improprieties ranging from awarding of contract to himself and cronies to outright stealing. The suspension was handed down by the Minister of Finance, Mrs. Kemi Adeosun who said the action is to pave way for investigation into several allegations of financial impropriety levelled against the top SEC officials.

A statement signed by Deputy Director, Press, Federal Ministry of Finance, Patricia Deworitshe on Wednesday announced the development.

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

“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 hand over to the most senior officer at the Commission, pending the conclusion of the 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.”

DCSL 90X780