Across Nigeria CACOL in The News Corruption Matters Main News News

Real reasons SEC DG, Gwarzo, was suspended

Director General of the Securities and Exchange Commission, SEC, Munir Gwarzo. [Photo credit: Business Eye]

Director General of the Securities and Exchange Commission, SEC, Munir Gwarzo.

Just before 5:00 p.m. on Wednesday evening, selected journalists got mails from the finance ministry of an impending ‘news break.’

“Kindly await a major news break from the Federal Ministry of Finance today at 6.30 p.m.,” Oluyinka Akintunde, the spokesperson of the Finance Minister, Kemi Adeosun, said; an indication that a decision to be announced to the public about 90 minutes later had already been made.

Less than an hour after Mr. Akintunde’s mail, the news was announced. Munir Gwarzo, the Director General of the Securities and Exchange Commission, SEC, had been suspended.

Suspended alongside Mr. Gwarzo were two officials of the regulatory commission, Abdulsalam Habu, Head of Media Division, and Anastasia Braimoh, Head of Legal Department.

The finance ministry in the statement signed by Patricia Deworitshe, Deputy Director, Press, announced that the officials were suspended based on corruption allegations against them.

“The Honourable Minister has set up an Administrative Panel of Inquiry (API) to investigate and determine the culpability of the Director-General”, Ms. Deworitshe announced.

Ms. Deworitshe did not announce the reason why it took the finance minister 10 months to acknowledge and act after the allegations were made to her office and anti-corruption agencies against Mr. Gwarzo and the two others.

Click here to read more.....

About the author

CACOL

Add Comment

Click here to post a comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe to News Update

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Archives