Minister of Finance, Kemi Adeosun has suspended the Director-General of the Securities and Exchange Commission, Mounir Gwarzo.
Adeosun said Gwarzo was suspended over an allegation of financial impropriety levelled against him.
The Head of Media Division, Abdulsalam Naif, and Head of Legal Department Anastasia Braimoh were also suspended.
According to a statement signed by Patricia Deworitshe on behalf of the ministry of finance, Adeosun has set up an administrative panel to investigate the matter.
“The suspension is in line with the public service rules (PSRs) 03405 and 03406,” the statement read.
“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.”
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