The Federal Government on Wednesday suspended the Director-General of the Securities and Exchange Commission (SEC), Mounir  Gwarzo. A statement signed by Patricia Deworitshe, Deputy...

The Federal Government on Wednesday suspended the Director-General of the Securities and Exchange Commission (SEC), Mounir  Gwarzo.

A statement signed by Patricia Deworitshe, Deputy Director, Press, Ministry of Finance, said Gwarzo’s suspension is to allow for unhindered investigation of several allegations of financial impropriety against the SEC chief.

According to the statement, the suspension is in line with the Public Service Rules (PSRs) 03405 and 03406.

The Head of Media in SEC, Mr. Abdulsalam Naif Habu, and the Head of Legal Department, Mrs. Anastasia Omozele Braimoh, have also been suspended over alleged financial impropriety.

The Minister of Finance, Kemi Adeosun, has set up an Administrative Panel of Inquiry (API) to investigate and determine the culpability of Gwarzo in the matter and has directed the suspended DG to immediately handover to the most senior officer at the Commission pending the conclusion of investigation.

Nurudeen Adegbenro