*Constitutes Probe Panel To Investigate, Determine Extent Of Involvement


Minister of Finance, Mrs. Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir H. Gwarzo and two others from Office on account of allegations of financial impropriety.

She has subsequently constituted an Administrative Panel of Inquiry (API) to investigate and determine the culpability of the Director-General.

Adeosun explained that the suspension became expedient to allow for an unhindered investigation of several allegations of financial impropriety leveled against Gwarzo.

In a statement by the Deputy director of press within the ministry, Patricia Deworitshe, the minister cited that the suspension was in line with the Public Service Rules (PSRs) 03405 and 03406.

She 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.

Others also suspended were two management staff of the Commission, Mr. Abdulsalam Naif Habu, Head of Media Division and Mrs. Anastasia Omozele Braimoh, Head of Legal Department, alleged to have been engaged in financial impropriety in the Commission.