Modupe Gbadeyanka
By Modupe Gbadeyanka
Nigeria’s Minister of Finance, Mrs Kemi Adeosun, has explained the main reason she suspended Mr Mounir Gwarzo as the Director General of the Securities and Exchange Commission (SEC) last Wednesday.
In a statement issued in Abuja on Friday, the Minister disclosed that the suspended regulatory chief was punished for allegedly trying to blackmail her.
She, however, refuted reports that she punished the SEC boss for his refusal to stop the forensic audit of Oando Plc.
Mrs Adeosun described such reports as totally “misleading and mischievous.”
Mr Gwarzo was suspended last week by the Minister after insisting on conducting a forensic audit of the energy firm, according to a memo the DG sent to Mrs Adeosun.
Oando Plc is headed by Mr Adewale Tinubu, a relative of Mr Bola Tinubu, the national leader of the ruling All Progressives Congress (APC).
In the statement sent to journalists today, Mrs Adeosun alleged that Mr Gwarzo had threatened to leak information to the media if any action was taken by the Minister against him.
The Finance Minister said this angered her, resulting into his eventual suspension.
She also said the action was “in line with the Public Service Rules (PSRs), to allow for an unhindered investigation of serious allegations of financial impropriety against him.”
“Mr Gwarzo personally delivered the memo using SEC staff seconded to the office of the Minister, in breach of normal procedures for the receipt of mail.
“The copy of the memo in the possession of the Minister was delivered with a message that any action against Mr Gwarzo would result in same being leaked to the press.
“It was this threat of blackmail that strengthened the resolve of the Minister to suspend Mr Gwarzo and allow the Administrative Panel of Inquiry to proceed with its probe,” the statement disclosed.
Mrs Adeosun stressed that, “There was no directive whatsoever to discontinue investigation into Oando,” noting that “The investigative work on Oando and all other ongoing investigations being undertaken by SEC in the discharge of its statutory functions have continued and are ongoing. Indeed, our information is that the forensic auditors have resumed at Oando.”
