FG appoints Dr Abdul Zubair acting D-G of SEC

The Federal Government has appointment of Dr Abdul Zubair as acting Director-General, Securities and Exchange Commission (SEC).

Mrs Efe Ebelo of the commission’s Corporate Communications Unit, said in a statement yesterday in Lagos said the appointment was with immediate effect.

Ebelo stated that the appointment followed the suspension of Mr Munir Gwarzo, the commission’s boss.

She assured the investing public and stakeholders, both local and international, of the commission’s commitment to ensuring uninterrupted and orderly operation of the market and regulation.

Until his appointment, Zubair was the Director in charge of External Relations in the commission.

Ebelo stated that the SEC would continue to ensure the stability of the Nigerian capital market and sustain the all-time high level of investors’ confidence. She added that recent developments in the commission would not be allowed to disrupt its regulatory effectiveness and efficiency as statutory regulator of the capital market.

She assured that the market would run smoothly despite the development.

Ebelo said the commission is awaiting the outcome of the assignment of the Administrative Panel of Inquiry set up by the Minister of Finance to investigate the allegations against the former boss. (NAN)