The Minister of Finance, Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission (SEC), Mounir Gwarzo.
The Advocate.ng gathered that Gwarzo was suspended in order to allow for an unhindered investigation of several allegations of financial impropriety levelled against him.
This was contained in a statement signed by Deputy Director, Press, Federal Ministry of Finance, Patricia Deworitshe, on Wednesday, November 29.
The suspension is in line with the Public Service Rules (PSRs) 03405 and 03406.
The Minister therefore 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 hand over to the most senior officer at the Commission, pending the conclusion of the investigation by the API.
“Also suspended are two management staff of the Commission – Abdulsalam Naif Habu, Head of Media Division and Anastasia Omozele Braimoh, Head of Legal Department – who have been alleged to engage in financial impropriety in the Commission,”the statement added.
Allegations against the Director General include an alleged collection of severance package in the sum of N104,851,154.94 while still in service.