Breaking: Reps seek reversal of SEC MD Gwarzo’s suspension

Breaking: Reps seek reversal of SEC MD Gwarzo’s suspension

- The House of Representatives has vowed to probe the suspension of DG, SEC, Mounir Gwarzo

- Gwarzo was last week suspended by the minister of finance, Kemi Adeosun, over alleged financial abuses

- The lawmakers asked both Gwarzo and Adeosun to maintain the status quo pending the outcome of the probe

The House of Representatives has resolved to probe the suspension of the Director-General of the Securities and Exchange Commission, Mounir Gwarzo, by the minister of finance, Kemi Adeosun, over alleged financial abuses.

While this is on, lawmakers want both parties to “maintain the status quo” pending the outcome of the probe.

Meanwhile, the federal government on Sunday, December 3, announced the appointment of Dr Abdul Zubair as acting Director-General, Securities and Exchange Commission (SEC).

Efe Ebelo of the commission’s corporate communications unit, said in a statement made available to the News Agency of Nigeria (NAN) in Lagos that the appointment was with immediate effect.

Ebelo stated that the appointment followed the suspension of Munir Gwarzo, the commission’s boss.

She assured the investing public and stakeholders, both local and international, of the commission’s commitment to ensuring uninterrupted and orderly operation of the market and regulation.

Until his appointment, Zubair was the director in charge of external relations in the commission. Ebelo stated that the SEC would continue to ensure the stability of the Nigerian capital market and sustain the all-time high level of investors’ confidence.

She added that recent developments in the commission would not be allowed to disrupt its regulatory effectiveness and efficiency as statutory regulator of the capital market. She assured that the market would run smoothly despite the development.

READ ALSO: I almost fled Nigeria in 2016 - Buhari reveals

Meanwhile, NAIJ.com had previously reported that the suspended Director-General of the Securities Exchange Commission, Mounir Gwarzo, will on Monday, December 4, appear before the Independent Corrupt Practices and Other Related Offences Commission (ICPC) as part of investigations into corruption allegations against him.

Top 4 corruption cases; Maina back in the spotlight - on NAIJ.com TV

Source: Naija.ng

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