SEC: Reps okay Gwarzo’s suspension

Former SEC Director-General, Munir Gwarzo

 

By Kemi Yesufu

The House of Representatives on Wednesday considered the report of its Committee on Capital Market and Institutions and okayed, the Suspension of Mr. Munir Gwarzo, former Director General of Securities and Exchange Commission (SEC).

The lawmakers sitting in the Committee of the Whole approved and adopted four clauses in the report which followed the investigative motion: “on Need to Intervene in the conflict between the Minister of Finance and the Suspended Director- General, Securities and Exchange Commission .

The report was presented by the Chairman of the committee, Rep. Tajudeen Yusuff.

The report reads:

“That based on the Constitutional Provision and the 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 Securities and Exchange Commission .by the Hon. Minister of Finance should stand.

“That based in the petition by various stakeholders of Oando, the committee agreed to conduct investigation on Oando Plc.

“That based on the Public Service Rules and the Securities and Exchange Commission , Staff Manual, the two Staff of Securities and Exchange Commission, Mrs. Anastacia O. Braimoh and Mr. Naïf Abdulsalam should be recalled from suspension and report to duty immediately.

” That the case of Mrs. Anastacia O. Braimoh and Mr. Naïf Abdulsalam
should be referred to the management of Securities and Exchange Commission for disciplinary action in accordance with Securities and Exchange Commission Staff Manual.”

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