Revealed: House Of Reps Probe Gwarzo’s Suspension


Timileyin Oriowo


The House of Representatives yesterday has resolved to investigate circumstances that led to the suspension of Director General of the Securities and Exchange Commission (SEC), Mounir Gwarzo by Finance Minister, Kemi Adeosun.

The Senate also backed the resolution by the House, while insisting that the probe must be thorough.

The House said it appeared there was conflict between Gwarzo and Adeosun over Oando’s forensic audit and corruption allegations, which should not be swept under the carpet.

The House therefore mandated the Committee on Capital Market and Institutions to probe the matter and report back within two weeks.

The lawmakers said all parties should maintain status quo, pending the outcome of the investigation. This was even as the SEC management under the acting DG said yesterday that it would go ahead with the forensic audit of Oando.

Adeosun had last Wednesday suspended Gwarzo over corruption allegations and instituted an administrative panel of inquiry to probe the matter.

Suspended alongside the DG were the SEC’s head of the media division, Abdulsalam Naif and the head of legal department, Anastasia Braimoh.

Adopting a motion by Rep Diri Douye (PDP, Bayelsa) at yesterday’s plenary, the House said the conflict between the two officials had lingered for several months but that the Oando audit brought it to the public domain.

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