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JUST IN: Court Orders Immediate Re-instatement of Suspended SEC DG, Gwarzo

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. Daily Trust reports that a former Minister of Finance, Kemi Adeosun suspended Gwarzo on November 29, 2017 and set up an administrative panel of inquiry to investigate allegations of financial impropriety levelled against him.

Gwarzo had subsequently challenged the suspension and the findings of the panel, which had indicted him. In his judgment on Thursday, the trial judge, Justice Sanusi Kado held that the Minister of finance, who was named as the second defendant in the suit, lacked the power to suspend the claimant.

Justice Kado subsequently declared that the suspension as null, void and of no effect. 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. He further ordered that the claimant’s salaries, allowances and entitlements accrued be paid to him in full.

Source: Dailytrustng

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