SEC Staff Lock Up Premises To Prevent Reinstating Of Gwarzo

The staff of the Securities and Exchange Commission (SEC) have locked up the commission’s building.

The workers’ union is protesting a court order reinstating Mr. Mounir Gwarzo as the director general of the commission.

Gwarzo had been suspended by Mrs. Kemi Adeosun, former minister of finance, over allegations of corruption and abuse of office.

He was accused of collecting severance package worth N104.85 million while still in service in violation of the civil service rules.

However, the industrial court last week ordered his reinstatement on grounds that the minister lacked powers to suspend him since he is not an employee of the commission.

Justice Sanusi Kado of the National Industrial Court 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.

He said that the minister, in the absence of the board, only had supervisory power, which does not include disciplinary power to suspend the DG.