Court Orders Gwarzo’s Reinstatement As DG SEC

The National Industrial Court in Abuja has ordered the immediate reinstatement of the suspended DG of the Securities and Exchange Commission, Mounir Gwarzo.

According to the judgment delivered by Justice Sanusi Kado, the court held that the former Minister of finance Kemi Adeosun does not have the power to suspend the claimant.

Recall that the former minister was named as the second defendant in the suit.

Naijaparry had reported that the DG was suspended as a result of investigations of fraud allegations levelled against him which also affected the Head of Legal Department, Anastasia Omozele Braimoh and Head of Media in SEC, Abdulsalam Naif Habu.

However, Justice Kado subsequently declared the suspension of Gwarzo 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.

Justice Kado thereafter ordered the reinstatement of the claimant as the DG of SEC to complete his five-year tenure.

The trial judge further ordered that the claimants’ salaries, allowances and entitlements accrued be paid to him in full.