The sack, last week, of Mr. Mounir Gwarzo as Director-General (DG) of the Securities and Exchange Commission (SEC) by Finance Minister, Mrs. Kemi Adeosun, was provoked by a letter found offensive by the minister.

While the official spiel was that Mr. Gwarzo was relieved of his appointment because of a wave of corruption allegations swirling around him, including paying himself over N100million in retirement benefits to which he was not eligible, it was the letter that made Mrs. Adeosun pull the trigger.

In the letter, obtained by newsmen, Mr. Gwarzo pointedly refused the minister’s instruction that the SEC should halt its investigation of Oando Plc, former employers of Mrs. Adeosun, for crooked book-keeping and corruption.

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The sacked SEC DG, however, warned the minister that her proposal with putting a question mark on the independence and integrity of SEC as well as erode the confidence of local and international investors in the country’s capital market.

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