BREAKING: SEC DG, 2 other Management Staff Suspended over Alleged Financial Fraud

Posted by African Examiner Featured, Latest Headlines, News Wednesday, November 29th, 2017

Photo: Suspended SEC DG, Mr. Mounir Gwarzo

(AFRICAN EXAMINER) – Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, from Office.

The suspension is to allow unhindered investigation of several allegations of financial impropriety leveled against the Director-General and two other management staff of the commission.

A statement issued in Abuja by the Ministry of Finance stated that Mr Gwarzo was suspended along side two other management staff of the Commission – Mr. Abdulsalam Naif Habu, Head of Media Division and Mrs. Anastasia Omozele Braimoh, Head of Legal Department.

The statement reads in part:

“The Honourable 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.”