Reps To Probe Suspension Of SEC DG By Adeosun

Reps To Probe Suspension Of SEC DG By Adeosun


The House of Representatives has resolved to probe the suspension of the Director-General of the Securities and Exchange Commission, Mr Mounir Gwarzo.

Gwarzo was earlier suspended by the Minister of Finance, Mrs Kemi Adeosun, on Wednesday, November 9, over the allegation of financial impropriety and to allow for an unhindered investigation of several allegations of financial impropriety leveled against him.

The House of Representatives on Tuesday mandated it’s committee on Capital Market and Institutions to investigate the allegations and circumstances that led to the suspension of Gwarzo.

This resolution follows a motion of urgent public importance by a lawmaker, Diri Douye, who also informed the House of allegations of interference by the Ministry of finance in the activities of the Securities and Exchange Commission.

The house is asking all parties in the matter to maintain status quo pending the outcome of the investigation of the house.

The committee is expected to report back in two weeks.

Adeosun on Wednesday, November 29 also suspended two management staff of the SEC, Mr Abdulsalam Naif Habu, Head of Media Division and Mrs Anastasia Omozele Braimoh, Head of Legal Department for alleged involvement in financial impropriety.

Dr Abdul Zubair has since been appointed as the acting Director General of the Commission.

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