The Federal Ministry of Finance on
Monday suspended the Director-General of the Securities and Exchange Commission
(SEC), Mounir Gwarzo, over alleged financial impropriety and abuse of office.
The head of media division, Abdulsalam
Naif Habu, and the head of legal department, Mrs. Anastasia Braimoh, were also
suspended on allegation of financial misconduct.
Gwarzo was alleged to have paid
himself N104m severance package.
Other allegations against him were:
“He is a director in Medusa Investment Limited, in violation of Public Services
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.”
The Minister of Finance, Kemi Adeosun,
said his suspension would pave the way for unhindered investigation and was
also in line with PSR 03405 and 03406, adding that a panel to determine his
culpability had been set up.
Gwarzo has been
directed to immediately hand over to the most senior officer at the commission,
pending the conclusion of investigation.
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