The staff of the Securities and Exchange Commission (SEC) have locked up the commission construction this morning.
The employees’ union is protesting a court order to reinstate Mounir Gwarzo as the Director General of the commission.
Gwarzo former DG of SEC had been suspended by Kemi Adeosun minister of finance, over allegations of corruption and abuse of office. He had been accused of amassing severance package worth N104.85 million while still in service in breach of the civil service rules.
On the other hand, the industrial court recently ordered his reinstatement on grounds that the minister lacked powers to suspend him because he’s not an employee of the commission. He explained that the ministry, at the absence of the board, only needed supervisory power, which doesn’t include disciplinary power to suspend the DG.