SEC Abuja Office news
Mounir Gwarzo, DG SEC

Staff members of the Securities and Exchange Commission (SEC) have locked up the secretariat of the commission in Abuja on Monday.

Concise News reports that this development was due to the reinstatement of the suspended Director-General of SEC Mounir Gwarzo.

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It was gathered that the incident was master-minded by members of the Association of Senior Civil Servants of Nigeria to defy a court order for the reinstatement of their suspended boss Gwarzo.

This news medium understands that Gwarzo was suspended by a former minister of finance Kemi Adeosun over allegations of corruption and abuse of office.

Also, he was accused of taking a severance package of N104.85 million while still in service, a contravention of the civil service rules.

But recently, the Industrial Court ruled that he should be reinstated because the minister lacked powers to suspend him since he is not an employee of the commission.

According to the court, the minister, in the board’s absence, only has supervisory power, and thus cannot discipline the DG.

Justice of the Industrial Court Sanusi Kado held that only the permanent secretary in the ministry of finance, on the directive of the president, had the power to suspend the DG of SEC.