Court Orders Re-Instatement Of Suspended SEC DG, Gwarzo

The National Industrial Court in Abuja has orderred the immediate reinstatement of the suspended Director-General of the Securities and Exchange Commission (SEC), Mounir Gwarzo. 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 challenged the suspension and the findings of the panel, which had indicted him. Delivering judgment yesterday, 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 DG. He held that the Minister, in the absence of the board, only had supervisory power, which he said does not include disciplinary power to suspend the DG. He further held that it was only the Permanent Secretary in the  Ministry of Finance, on the directive of the president, who had the power of suspension. Justice Kado subsequently declared 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 Gwarzo as the DG of SEC to complete his five year tenure. He further ordered that his salaries, allowances and entitlements accrued be paid to him in full. An FCT High Court in Maitama on April 16 discharged and acquitted the suspended DG Gwarzo of all charges filed against him by the Independent and Corrupt Practices and Other Related Commission (ICPC). He was accused of criminal breach of trust and for allegedly paying himself severance benefits of N104.8m and N10.4m in excess of car grant while still in service.   Related JUST IN: Court orders immediate re-instatement of suspended SEC DG, Gwarzo Suspended SEC DG, Gwarzo finally vindicated Suspension: Adeosun seeks time to respond to Gwarzo’s claims