Court orders reinstatement of suspended SEC DG, Gwarzo

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Mounir Gwarzo, suspended Director-General of the Securities and Exchange Commission

By Glory Abuh-Adejoh

The National Industrial Court, Abuja on Thursday ordered the  immediate reinstatement of  Mounir Gwarzo, the suspended Director-General of the Securities and Exchange Commission (SEC), back to his position.

Justice Sanusi Kado, in his judgment, held that the Minister of finance,  named as second defendant in the suit  lacked the power to suspend the claimant.

Kado, who dismissed three issues raised by defence counsel through their preliminary objection, ruled that the the suit was not status barred.

He held that since there was cause of action in the claimant’s suit, hence he (claimant) had the right to commence the suit by way of originating summon.

Kado further held that the issue in dispute was not about the position of the claimant as the DG of the Commission, but that the bone of contention was who had the power to suspend him.

The judge held that the second…



Source: News Agency of Nigeria