House of Reps: Adeosun Right To Suspend SEC Chief Mounir Gwarzo

The house of representatives says Kemi Adeosun, minister of finance, was right to suspend Mounir Gwarzo, director-general of the Securities and Exchange Commission (SEC).
The minister suspended Gwarzo in November, a time when SEC was about to conduct a forensic audit on Oando Plc.
She had also set up an administrative panel to probe allegations of corruption leveled against him.
But the house had probed the timing of the suspension. At one of its hearing, Gwarzo claimed Adeosun suspended him for refusing to stop Oando’s audit.
However, at plenary on Wednesday, the house considered and adopted the report of the committee which ruled that the suspension is in order.
In its report, the committee chaired by Tajudeen Yusuf from Kogi state said Adeosun acted in accordance with the 1999 constitution and the civil service rules.

Part of the committee’s recommendations read: “That based on the constitutional provisions and other extant laws, as well as relevant provisions of the Public Service Rules cited and referred to, the suspension of Mr. Munir Gwarzo, the former director-general of the Securities and Exchange Commission by the Minister of Finance should stand.
“That based on the petitions by various stakeholders of Oando, the committee agreed to conduct investigation of Oando Plc.”
The committee also said based on the public service rules and the Securities and Exchange Commission’s staff manual, two suspended staff of SEC – Anastacia O. Braimoh and Naif Abdulsalam – should be recalled from suspension “and report to duty immediately.”
“That the case of Mrs. Anastasia Braimoh and Mr. Naif Abdulsalam should be referred to the management of SEC for disciplinary action in accordance with the Securities and Exchange Commission’s staff manual,” it added.

April 20, 2018