The House of Representatives on Tuesday passed a resolution to probe the recent suspension of the Director General of Security and Exchange Commission (SEC), Munir Gwarzo by the Ministry of Finance. The House also resolved to investigate the allegations of corruption preferred against him.
The resolution followed a motion raised under Matters of Urgent Public Importance titled “Need to intervene on the conflict between Minister of Finance and the Suspended Director-General, Security and Exchange Commission”, sponsored by Hon. Diri Douye.
In the motion, the Honourable member said there were allegations of undue interference in the operations of SEC under Gworzor by the Minister of Finance especially in respect of Oando Forensic Audit Matter. Continuing, he said Gwarzo's suspension was allegedly blamed on his refusal to obey an instruction directing him to halt the audit of the company even though the responsibility falls under his jurisdiction. He therefore called for the House to investigate the matter.
“The House notes the conflict between Minister of Finance, Kemi Adeosun and the suspended Director-General, Security and Exchange Commission, SEC, Munir Gwazo over Oando’s Forensic Audit and corruption allegations. Still notes that the conflict has led to the suspension of the DG, SEC, alongside Head, legal Department and Head, Media on the 29th November, 2017. It has also led to the setup of an Administrative Panel of Inquiry and appointment of Ag DG by the Minister of Finance.
Equally notes that the conflict has been allegedly lingered for several months between Ministry of Finance and Securities and Exchange Commission but the matter of Oando disagreement brought it into public domain.
Also observes that the intervention by the House will put the matter into proper perspective and amicable resolution of the conflict in order to protect the image of the security and exchange commission in the interest of both local and foreign investors.”
After much deliberation, the House voted and mandated the Committee on Capital Market and Institutions to investigate the matter and report back within two weeks. Also the House called on the Ministry of Finance to maintain status quo.
