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SEC Agency's suspended DG to appear before ICPC over N104m alleged fraud

The SEC DG, who was suspended by Kemi Adeosun, was sent an invitation letter to appear before the commission on November 30, 2017.

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Finance minister suspended me for probing Oando - Gwarzo play

Director-General of Securities and Exchange Commission, Mr Mounir Gwarzo

(National Mirror)

Mounir Gwarzo, the suspended Director-General of the Securities Exchange Commission, will face the Independent Corrupt Practices and Other Related Offences Commission over alleged corrupt practices.

Gwarzo, who was accused of collecting N104,851,154.94 severance package while still in service, will on Monday, December 4, 2017, appear before the ICPC as part of investigations into corruption allegations against him.

The SEC DG, who was suspended by the Minister for Finance, Kemi Adeosun, was sent an invitation letter to appear before the commission on November 30, 2017.

The ICPC, in a letter dated November 30, 2017, with reference number ICPC/INV/GBP/SG.2/852, invited the embattled DG to appear before it on Monday.

Dismiss suspended SEC DG after refunding N104M - Panel play

Finance Minister Kemi Adeosun

(Daily post)


The letter, signed by the Head of Department, Investigations, ICPC, Adedayo Kayode, was addressed to the acting DG of SEC asking him to inform Gwarzo to appear on Monday.

ALSO READ: Securities and Exchange Commission DG suspended over alleged corruption

The ICPC letter read in part, “The commission (ICPC) is investigating a case that borders on alleged violation of the provision of the Corrupt Practices and Other Related Offences Act, 2000.

“In view of the above and pursuant to Section 28 of the said Act, you are requested to inform Mr. Mounir Gwarzo to appear before the undersigned for the purpose of interview on Monday, 4th of December, 2017 at the commission’s headquarters, Abuja by 2pm prompt.

The SEC quake

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 to allow for unhindered investigation into several allegations of financial impropriety leveled against him.

A statement issued by the Federal Ministry of Finance on Wednesday, November 29, 2017, said the suspension was in line with the Public Service Rules (PSRs) 03405 and 03406.

Adeosun, had on Wednesday suspended Gwarzo and two other officials of the commission for alleged involvement in corrupt practices.

Adeosun, who also set up an administrative panel of inquiry to probe the allegations, directed Gwarzo to hand over the affairs of the commission to the most senior director while he proceeded on suspension.

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