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LequteMan
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Nigeria's Minister of Finance, Kemi Adeosun on Tuesday delivered her testimony at House of Representatives Hearing on the suspended Director- General of the Security Exchange Commission, Munir Gwarzo.
"We followed due process in the suspension of the SEC DG. The allegations against him, submitted to our Whistleblowing Unit, were thoroughly investigated, and we gave him a chance to respond and defend himself", she said.
"The DG's response to our query contradicted the evidence from our investigations—evidence from CAC & from bank records showing that not only was he still a Director in the companies in question, but also that he remained a signatory to their accounts.
"A high standard of propriety and integrity is required from capital market operators, and even more from the capital market Regulator. Unfortunately the suspended DG did not live up to these standards, and disciplinary action was taken in line with due process.
"We followed due process in the suspension of the SEC DG. The allegations against him, submitted to our Whistleblowing Unit, were thoroughly investigated, and we gave him a chance to respond and defend himself", she said.
"The DG's response to our query contradicted the evidence from our investigations—evidence from CAC & from bank records showing that not only was he still a Director in the companies in question, but also that he remained a signatory to their accounts.
"A high standard of propriety and integrity is required from capital market operators, and even more from the capital market Regulator. Unfortunately the suspended DG did not live up to these standards, and disciplinary action was taken in line with due process.
