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The House of Representatives on Tuesday began the probe into the circumstances that led to the suspension of the Director General of the Securities and Exchange Commission (SEC), Mounir Gwarzo.

The probe, which is carried out by the Committee on Capital Market and Institutions, headed by Tajudeen Yusuf (PDP-Kogi), is expected to look into the allegations and counter-allegations by the Minister of Finance, Kemi Adeosun, and Gwarzo.

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All members of the panel were available alongside the representative of the Speaker Yakubu Dogara.

It was observed that the suspended SEC DG was also seated, with the probe ongoing.

Minister of Finance Kemi Adeosun had in November last year suspended Gwarzo and replaced him with Dr. Abdul Zubair as the acting Director General.

SEC said an Administrative Panel of Inquiry has been set up by the Minister of Finance, and it patiently awaits the outcome of the panel.

Garwzor was suspended to allow for an unhindered investigation of several allegations of financial impropriety leveled against him.

Prior to Zubair’s appointment, he was the Director in charge of External Relations in the Commission.