DG Gwarzo’s Suspension: SEC Files Preliminary Objection

The National Industrial Court (NIC), Abuja, on Thursday adjourned until October 24, 2018 hearing of the preliminary objection filed by Securities and Exchange Commission (SEC) in the suit instituted by suspended Director-General, Mounir Gwarzo against the Commission

Adjourning the suit after listening to submissions of counsels, Justice Sanusi Kado ordered that hearing notice be served on the Attorney-General of the Federation who has no legal presentation in court.

When the case came up for mention, the claimant counsel, Adetayo Adeyemi, told the court that all the defendants had been served with originating processes.

Similarly, counsel to SEC, Mr Chris Uche (SAN) informed the court that a memorandum of conditional appearance has been filed and served the claimant’s counsel with preliminary objection.

However, Mr Chinedu Achumie, who is counsel to the Minister of Finance, acknowledged that they had been served by the claimant, but were yet to reply.

Also, the claimant’s counsel Adeyemi acknowledged that SEC counsel had served them with preliminary objection, but they were yet to reply as they were served on Wednesday.

Among the reliefs sought by the claimant are: a declaration that his appointment as D-G of SEC is valid, legal and subsisting; and a declaration that the Administrative Panel of Inquiry set up by the Minister of Finance was biased, partial and against the principle of natural justice.

Furthermore, the suspended Director General is also seeking an order of the court to set aside the report of the Administrative Panel of Inquiry that indicted him.

Mounir Gwarzo was suspended from office in November 2017, over alleged financial misappropriation and abuse of due process – (NAN)