Mounir Gwarzo, Director General of the Securities and Exchange Commission (SEC), has been suspended.
The development was announced in a statement released on Wednesday, November 29, by Patricia Deworitshe, Deputy Director, Press, Federal Ministry of Finance.
Gwarzo was suspended on the order of the minister of finance, Kemi Adeosun, “to allow for an unhindered investigation of several allegations of financial impropriety leveled against the director-general.” The statement further read: “The Honorable 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 – Abdulsalam Naif Habu, Head of Media Division and Anastasia Omozele Braimoh, Head of Legal Department – who have been alleged to engage in financial impropriety in the Commission.” Gwazo was appointed by former president Goodluck Jonathan to succeed the former SEC DG, Arunmah Oteh, and previously held the position of executive commissioner at the SEC.
The SEC DG allegedly requested that he be paid the humongous sum of money as entitlement for holding his previous position for two and a half years