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Adeosun sacks Acting SEC boss, Zubair due to unsatisfactory performance


OREDOLA ADEOLA

The Minister of Finance, Mrs. Kemi Adeosun, has sacked Dr. Abdul Zubair, Acting Director-General of the Securities and Exchange Commission.



 This was confirmed in a statement issued by Mr. Oluyinka Akintunde, Special Adviser to the minister of finance.

Recall that Zubair was appointed as acting SEC DG on November 29, 2017, following the suspension of Mr. Mounir Gwarzo for alleged abuse of office.

He has now been redeployed to the External Relations Department, while Ms.Mary Uduk, has been appointed as the new Acting Director-General of the Commission, based on the provisions of the Investments and Securities Act, 2007 and the conditions of service applicable to the Director-General of the Commission.

The statement revealed that the minister in a letter dated Friday, 13th April, 2018, said Uduk’s appointment had become necessary to ensure effective regulation of the capital market.

“Her appointment will, subject to satisfactory performance, subsist until further notice.

“The minister also announced the redeployment of the former acting Director-General of the Commission, Dr. Abdul Zubair, to External Relations Department," the statement revealed.


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