PMB's Anti-Corruption War and it's intrigues: SEC DG Gwarzo Down.
EXCLUSIVE: Real reasons SEC DG, Gwarzo, was suspended.
Just before 5:00 p.m. on Wednesday evening, selected journalists got mails from the finance ministry of an impending ‘news break.’
“Kindly await a major news break from the Federal Ministry of Finance today at 6.30 p.m.,” Oluyinka Akintunde, the spokesperson of the Finance Minister, Kemi Adeosun, said; an indication that a decision to be announced to the public about 90 minutes later had already been made.
Less than an hour after Mr. Akintunde’s mail, the news was announced. Munir Gwarzo, the Director General of the Securities and Exchange Commission, SEC, had been suspended.
Suspended alongside Mr. Gwarzo were two officials of the regulatory commission, Abdulsalam Habu, Head of Media Division, and Anastasia Braimoh, Head of Legal Department.
The finance ministry in the statement signed by Patricia Deworitshe, Deputy Director, Press, announced that the officials were suspended based on corruption allegations against them.
“The Honourable Minister has set up an Administrative Panel of Inquiry (API) to investigate and determine the culpability of the Director-General”, Ms. Deworitshe announced.
Ms. Deworitshe did not announce the reason why it took the finance minister 10 months to acknowledge and act after the allegations were made to her office and anti-corruption agencies against Mr. Gwarzo and the two others.
However, ongoing investigation by PREMIUM TIMES reveal that while the allegations against the regulatory chief deserve to be investigated and suspects prosecuted if found guilty, the real reason for the suspension was the crisis rocking Nigeria’s supposed largest indigenous oil and gas firm, Oando.
In fact, sources told PREMIUM TIMES, the decision to suspend Mr. Gwarzo was taken at least 24 hours before Mr. Akintunde’s first mail to journalists on Wednesday at a meeting attended by three people.
THE MEETINGS
On Tuesday, the SEC chief met with the Permanent Secretary of the Ministry of Finance, Mohammed Dutse, two sources knowledgeable about the meeting told PREMIUM TIMES although both gave varying details of the meeting.
One source said the Tuesday meeting was a follow up to another held between Mr. Gwarzo, Mrs. Adeosun, and Mr. Dutse.
Credit: Premium times.
Just before 5:00 p.m. on Wednesday evening, selected journalists got mails from the finance ministry of an impending ‘news break.’
“Kindly await a major news break from the Federal Ministry of Finance today at 6.30 p.m.,” Oluyinka Akintunde, the spokesperson of the Finance Minister, Kemi Adeosun, said; an indication that a decision to be announced to the public about 90 minutes later had already been made.
Less than an hour after Mr. Akintunde’s mail, the news was announced. Munir Gwarzo, the Director General of the Securities and Exchange Commission, SEC, had been suspended.
Suspended alongside Mr. Gwarzo were two officials of the regulatory commission, Abdulsalam Habu, Head of Media Division, and Anastasia Braimoh, Head of Legal Department.
The finance ministry in the statement signed by Patricia Deworitshe, Deputy Director, Press, announced that the officials were suspended based on corruption allegations against them.
“The Honourable Minister has set up an Administrative Panel of Inquiry (API) to investigate and determine the culpability of the Director-General”, Ms. Deworitshe announced.
Ms. Deworitshe did not announce the reason why it took the finance minister 10 months to acknowledge and act after the allegations were made to her office and anti-corruption agencies against Mr. Gwarzo and the two others.
However, ongoing investigation by PREMIUM TIMES reveal that while the allegations against the regulatory chief deserve to be investigated and suspects prosecuted if found guilty, the real reason for the suspension was the crisis rocking Nigeria’s supposed largest indigenous oil and gas firm, Oando.
In fact, sources told PREMIUM TIMES, the decision to suspend Mr. Gwarzo was taken at least 24 hours before Mr. Akintunde’s first mail to journalists on Wednesday at a meeting attended by three people.
THE MEETINGS
On Tuesday, the SEC chief met with the Permanent Secretary of the Ministry of Finance, Mohammed Dutse, two sources knowledgeable about the meeting told PREMIUM TIMES although both gave varying details of the meeting.
One source said the Tuesday meeting was a follow up to another held between Mr. Gwarzo, Mrs. Adeosun, and Mr. Dutse.
Credit: Premium times.
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