“Mr Gwarzo has alleged that his suspension was due to his refusal to stop the forensic audit of Oando Plc.

“I would not have ordinarily responded in view of her responsibility for the approval of the Constitution and Terms of Reference for the Administrative Panel of Inquiry into the allegations against Mr Gwarzo.

"However, given the degree of speculations and the potential impact on the capital market, there is a need to set the records straight."

 Minister of Finance, Kemi Adeosun, stated this during a chat with journalists at the ministry’s headquarters in Abuja.

Adeosun described as untrue, claims by the suspended DG, that she attempted to stop the forensic audit by SEC into the activities of Oando Plc.

ALSO READ: SEC DG, Gwarzo, Two Others Suspended

She wondered why Gwarzo could resort to peddling falsehood when in fact he was given a right of fair hearing through an administrative query.

Adeosun said she decided to speak now to set the records straight, because the actions so far taken by Gwarzo since his suspension by the government was capable of eroding investors’ confidence in the capital market.

She described the allegations against Gwarzo as very weighty, as the ministry was in possession of records that showed inconsistencies in the handling of the affairs of the commission by the suspended DG.

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