The Minister of Finance, Mrs. Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir H. Gwarzo, from office.

The suspension is to allow an unhindered investigation of several allegations of financial impropriety levelled against the Director-General.

The suspension, the Minister said in a statement, is in line with the Public Service Rules (PSRs) 03405 and 03406.

The Minister has 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 handover to the most senior officer at the Commission, pending the conclusion of investigation by the API.

Also suspended are two management staff of the Commission – Mr. Abdulsalam Naif Habu, Head of Media Division and Mrs. Anastasia Omozele Braimoh, Head of Legal Department – who were alleged to have engaged in financial impropriety in the commission. (Daily Trust)