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Published On: Fri, May 31st, 2019

Court orders immediate re-instatement of suspended SEC DG, Gwarzo

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By Vivian Okejeme Abuja

A National Industrial Court in Abuja has ordered the immediate reinstatement of the suspended Director-General of the Securities and Exchange Commission (SEC), Mounir Gwarzo.
The court also ordered that Gwarzo’s salaries, allowances and entitlements accrued be paid to him in full.
On November 29, 2017, the former Minister of Finance, Kemi Adeosun, suspended the former SEC Boss and set up an administrative panel of inquiry to investigate allegations of financial impropriety levelled against him.
Sequel to the suspension, Gwarzo headed to the industrial court, challenging the suspension and the findings of the panel, which had indicted him.
However, Justice Sanusi Kado of the court, in a ruling, yesterday, declared the suspension as null, void and of no effect.
He held that the Minister of finance, lacked the power to suspend the Gwarzo.
The judge also held that the Administrative Panel of Inquiry that indicted the claimant was not a court of law neither was it a quasi-judicial body, but just a body set up for a fact finding duty.
He also declared that the recommendation of the Administrative Panel of Inquiry be set aside.
He thereafter ordered the reinstatement of the claimant as the DG of SEC to complete his five year tenure.

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