Industrial Court Orders Gwarzo’s Reinstatement as DG SEC

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Mounir H. Gwarzo

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

In a judgment delivered by Justice Sanusi Kado the court held that the former Minister of finance Mrs Kemi Adeosun , who was named as the second defendant in the suit, lacked the power to suspend the claimant.

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 the 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 claimant’s salaries, allowances, and entitlements accrued to be paid to him in full.

The 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 leveled against him.

Gwarzo who had also been cleared of any wrongdoing on allegation of using his office for personal enrichment by an FCT High Court challenged the suspension and the findings of the panel, which had indicted him.

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