The Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, and two others from Office over fraud allegations
The suspension what is seen as part of the anti-corruption drive of President Muhammadu Buhari administration, was contained in a statement on Wednesday by the Deputy Director (Press), Ministry of Finance, Mrs. Patricia Deworitshe.
Deworitshe said the decision is to allow for an unhindered investigation of several allegations of financial impropriety leveled against the Director-General.
According to her, the suspension is in line with the Public Service Rules (PSRs) 03405 and 03406.
She stated that 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 handover to the most senior officer at the Commission, pending the conclusion of investigation by the API,” she stated.
Also suspended, she noted, 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.
Global Sentinel gathered that the Gwarzo’s suspension bordered on three key allegations, which are:
•He allegedly collected Severance Package in the sum of N104,851,154.94 while still in service.
•He is a Director in Medusa Investment Limited, in violation of Public Service Rules (PRS) 030424.
•He awarded contracts to the same company and other companies to which he is related, thus resulting in a conflict of interest