SEC Appeals Mounir Gwarzo’s Reinstatement Judgement

The Securities and Exchange Commission has appealed the judgment of the National Industrial Court that ordered restatement of suspended Director General of the Commission, Mounir Gwarzo.

 Solacebase recalled that the National Industrial Court gave a judgment on May 30th 2019 ordering immediate reinstatement of the suspended Director General of the Commission, Mounir Gwarzo , the payment of all his entitlement and allowances.

The Court ordered that the monetary aspects of the judgment shall be complied with within 60 days from May,30th 2019.

However, the appeal filed at the Abuja Division of the Court of Appeal by Securities and Exchange Commission against Mounir Gwarzo as the first defendant, Kemi Adeosun (Minister of Finance) and Attorney General of the Federation second and third defendant respectively, was dated May 31st, 2019.

The commission gave a five ground of appeal praying the appeal court to grant its reliefs that include to allow the appeal and set aside the judgment of the National Industrial Court, Abuja division delivered by Justice Sanusi Kado on May 30th, 2019.

It also urged the appeal court to dismiss the suit of the first claimant (Mounir Gwarzo) at the trial court.

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