Mounir Gwarzo suspended as DG Securities and Exchange Commission, SEC

Director General of the Securities and Exchange Commission, SEC, Mounir Gwarzo, [Photo credit:]
Director General of the Securities and Exchange Commission, SEC, Mounir Gwarzo, [Photo credit:]

The Director General of the Securities and Exchange Commission, SEC, Mounir Gwarzo, has been suspended from office.

Mr. Gwarzo was suspended on Wednesday by the finance minister, Kemi Adeosun, “to allow for an unhindered investigation of several allegations of financial impropriety levelled against the Director-General.”

According to a statement by Patricia Deworitshe, Deputy Director, Press, Federal Ministry of Finance, “the suspension is in line with the Public Service Rules (PSRs) 03405 and 03406.”

“The Honourable 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 – 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.”


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  • kazkaz

    You’re pathetic. How did your lord and saviour GEJ fight corruption???

    • share Idea

      Through scientific means and strengthening of institutions

      • kazkaz

        Lolz, scientific means indeed. What institution did he strenghten?

      • john

        Hmmmmm, strengthening the institutions abilities to steal more via scientific means.

  • Sanssouci

    Good move! Tinubu’s hand whether in it or not is irrelevant, if 25% of the evidence shown with account numbers and all is true this was inevitable, I am even surprised it took this long.

    • EdgarLegatt

      Thanks I don’t now why some people cannot reason.

  • Alhaji Malam

    I share your pain Dipo. Corruption fighting back at its best! Does this mean that no official can challenge the ‘establishment’ and prevail? How can our officials be expected to stand their ground when crooks with deep pockets can always influence outcomes and have their ways in the end?

  • shiola

    Oando and tinubu are on it

  • dami

    Oando fights back!!

    • Moneyz N Horseyz

      It may not be unconnected with the info PMB claimed was given to him by vagabond abi Jagaban.

  • Someone

    tit for tat. so he was stealing behind our backs

  • Bassey Frank

    Nothing may happen to him because he is from core North.

    • Gbabe 2017


      With fraud all over this government, the truth is that anyone with Primary Six
      certificate as best evidence of schooling can be deluded to believe that he is
      the best invention after sliced bread, and threaten to run again for president,
      in the befuddled belief that voters want economic recession, ignorance and
      inarticulate leadership without any sense, knowledge or gumption. It is for the
      people to rise up and vote against such deluded fellow and show him the way
      out of their battered lives without further delay since illiteracy is a bane and a

    • john

      Shush, stop being pessimistic and clanish.

      • Julius

        lol@clanish ! well stated !!!

      • Bassey Frank

        Babachir Lawal on my mind.

  • Jagz

    This is how investigation is being conducted…the accused is suspended so that he/she can’t have undue influence over the investigation n if found culpable then he/she will be handled over to the relevant authorities. Absolute Fresh thinking Mrs Adeosun cos cases like this in our country, the accused maintenance status quo n i wonder what logical conclusion can be achieved at the end.

    • john

      The suspension was easy because it’s not really a political appointment.