Director-General of the Securities and Exchange Commission Suspended

Director-General of the Securities and Exchange Commission, Mr. Mounir Gwarzo

 

The Director-General of the Securities and Exchange Commission, Mr. Mounir Gwarzo has been suspended over an allegation of financial impropriety levelled against him.

 

The suspension order was given on Wednesday by the Minister of Finance, Mrs Kemi Adeosun.  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 Minister has set up an Administrative Panel of Inquiry (API) to investigate and determine the DG's culpability. She has also directed him to immediately handover to the most senior officer at the Commission, pending the conclusion of investigation by the API. 

 

The Minister said the suspension will give way for an unhindered investigation of several allegations of financial impropriety leveled against the Director-General.