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Court to hear SEC’s counter-claim in suspended D-G Gwarzo’s suit Jan. 30

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The National Industrial Court, Abuja, on Thursday adjourned until Jan. 30, 2019, hearing of counter-claim and other pending applications filed by the Securities and Exchange Commission (SEC) and two other defendants.

Ex Nigerian Securities and Exchange Commission boss, Mr. Mounir Gwarzo

The suit instituted by the suspended Director-General of SEC, Mounir Gwarzo, is challenging his suspension before the court.

At the resumed hearing, Gwarzo’s counsel, Adetayo Adeyemi, told the court that he had been served processes from all three defendants.

Adeyemi said the application from SEC, the first defendant through it counsel, Abduljalil Musa, was for counter-claim, while the application from the Minister of Finance, the second defendant through her counsel, Chinedu Achumie was to regularise their processes.

The counsel went on to say that he also received processes filed by the Attorney-General of the Federation (AGF), the third defendant through his counsel, Abdullahi Abubakar.

The judge, Justice Sanusi Kado, gave each defendant time to formally raise their motions.

When none of the parties objected to the applications, the judge said “having not objected, the applications are hereby granted as prayed”.

Kado then adjourned the suit until Jan. 30, 2019 and ordered the parties to bring any reply and serve in the next adjourned date.

The judge also said that all the pending applications, which include preliminary objections, originating summon and processes would be taken that day.

News Agency of Nigeria (NAN), recalls that Gwarzo was suspended in November 2017, over alleged financial misappropriation.

The claimant is seeking a declaration that his appointment as D-G of SEC is valid, legal and subsisting.

The suspended D-G is also seeking an order of the court to direct the first defendant to pay his salaries, benefits and entitlements from the date of his suspension till date, among other claims. (NAN)

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