Adeosun suspends SEC DG, Gwarzo, over alleged financial improprieties

Secretary of the Treasury Kemi Adeosun has suspended the role of director general of the Securities and Exchange Commission in order to unimpededly investigate his allegations of poor financial management.

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In a press statement issued by the Minister's office, an administrative team was set up to investigate and determine the responsibility of the Director-General.
Guardosa was accused of collecting a N105m (105 million Naira) severance payment, while still in office.

He is also accused of awarding the contract to a company in which he serves as a director, violating public service rules and conflicts of interest.

Two other securities and exchange commission managers were also suspended.

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