The House of Representatives is currently holding a public hearing on the suspension of the Director-General of the Securities and Exchange Commission (SEC), Mr Mounir Gwarzo by the Minister of Finance, Mrs Kemi Adeosun.

The hearing is conducted by the House Committee on Capital Market and Institutions.

Chairman of the committee, Mr Tajudeen Yusuf, a Peoples Democratic Party (PDP) lawmaker representing Kabba/Bunu/Ijumu Federal Constituency of  Kogi State, along with his fellow colleagues are grilling the stakeholders.

In attendance are the Finance Minister, suspended SEC boss among several other workers in the parastatal and ministry.

Adeosun had in November last year suspended the Director-General of the SEC, Mr Mounir Gwarzo and replaced him with Dr Abdul Zubair as the acting Director General.

The House had earlier in December 21 last year launched a hearing to probe the rift between the due over an alleged financial impropriety levelled against the former by the latter.

Garwzor was suspended to allow for an unhindered investigation of several allegations of corruption.

Meanwhile, Adeosun while addressing reporters in Abuja, said the decision to suspend Mr Gwarzo was in accordance with laid down rules and aimed at sanitising the nation’s capital market to protect investor confidence.

She debunked the claim that the decision was to stall the forensic audit of Oando Plc.

“The federal Ministry of finance would like to place on record that Gwarzo suspension is in line with public service rules to allow for an unhindered investigation of serious allegations of financial impropriety against him. Some of those allegations for which we have documented evidence include the award of contracts to companies related to him and members of his family.”