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Nepotism: Why Finance Minister Suspended SEC DG Mounir Gwarzo


A source close to Securities and Exchange Commission [SEC] said that Finance Minister, Kemi Adeosun suspended SEC DG, Mounir Gwarzo over nepotism .
Finance Minister, Kemi Adeosun

A source close to the Securities and Exchange Commission [SEC] has informed Elombah.com that the Minister for Finance, Mrs Kemi Adeosun arbitrarily suspended the SEC Director General, Mr Mounir Gwarzo over issues bordering on nepotism.

Recall that Elombah.com had, on Wednesday, November 29, reported that Mounir Gwarzo was been suspended as SEC DG by the Finance Minister.

Shedding light to the development, our source said that Mrs Adeosun sacked him to prevent Oando from being exposed over alleged irregularities.

To that end, he allegedly “sacrificed a performing SEC DG, pretending to be fighting corruption while protecting the corrupt South-west-based oil company”.

Our source recounted how Adeosun, in the recent past, favored South-west Federal Government financed projects but neglected Northern projects financed by same government.

He also lamented that “she sabotaged government’s efforts in the fight against Boko Haram by refusing to release funds made for the welfare of soldiers who are being killed while protecting their fatherland, on the pretext that it was not her priority”.

He regretted why ‘northern Senators, Representatives, Governors, Ministers and other northern stakeholders would continue to close their eyes and allowed organisms to pass under the microscope, instead of attacking the issue headlong.

He therefore charged the above-mentioned to rise up to the occasion and “put a stop to this game of pretext by the Yorubas”. 

He recalled that Adeosun had “appointed a Yoruba as acting DG before recommending for his confirmation or for another Yoruba as substantive SEC’s DG”. 

He added that she cannot deny sitting on hundreds of petitions on alleged illegalities leveled against the DG Federal Inland Revenue, but is shedding him being a Yoruba man.


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