Suspended SEC DG drags Finance Minister to Industrial Court

The suspended Director-General of Nigerian Securities and Exchange Commission (SEC), Mounir Gwarzo, on Monday filed a suit before the National Industrial Court, Abuja, challenging his suspension by the Minister of Finance, Mrs Kemi Adeosun.

It would be recalled that Gwarzo was suspended from office in Nov. 2017 over alleged financial misappropriation and he is now seeking the court to determine some issues pertaining to the minister’s action. Adeosun in April announced Ms. Mary Uduk as his replament.

Gwarzo now wants the court to determine whether the Minister of Finance has the power to suspend him as Director-General, an appointment made by President of Nigeria and confirmed by the Senate.

He also asked the court to determine whether the Public Service Rule, relied upon by the Minister to suspend him, is applicable to persons holding the office of Director General, SEC.

Similarly, Gwarzo asked the court to determine whether the Administrative Panel of Inquiry set up by the Minister was properly constituted to be fair and impartial.

Counsel to Gwarzo, Abdulhakim Mustapha, SAN, said his client amongst others was seeking an order of the court reinstating him as the Director General, SEC, adding that he was seeking the order of the court for the payment of all his entitlements, emoluments, allowances and other perquisites of the office of Director General of SEC for the entire period he was under suspension.

Mustapha also said his client was additionally seeking an order of court setting aside the entire proceedings of Administrative Panel of Inquiry constituted by the Minister.

Joined in the suit are the SEC, Minister of Finance and Attorney-General of the Federation.