- The ICPC will arraign suspended director-general of the Securities and Exchange Commission, Mounir Gwarzo
- He will be arraigned on three charges bordering on fraud
- Two charges were also preferred against Zakwanu Garuba, for allegedly conniving with Gwarzo to commit the fraud
The suspended director-general of the Securities and Exchange Commission (SEC), Mounir Gwarzo, will be arraigned by the Independent Corrupt Practices and other related offences Commission (ICPC) before a Federal Capital Territory High Court sitting in Maitama, The Punch reports.
Legit.ng gathered that Gwarzo will be arraigned Tuesday, June 5, on three charges bordering on fraud in Court 4.
In the charge with suit no CR/185/18, the ICPC accused Gwarzo of committing the fraud in June 2015.
The commission also preferred two charges against the SEC executive commissioner, Corporate Services, Zakwanu Garuba, for allegedly conniving with Gwarzo to commit the fraud.
The anti-graft agency said Gwarzo received over N104 million as severance benefit less than a month after his appointment. The suspended SEC boss was also accused of receiving over N10 million as a ‘car grant’ contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000.
One of the charges read: “That you, Mounir Gwarzo, on or about June 2015, while being the Director-General of the Securities and Exchange Commission, received the sum of N104,851,154.94 as severance benefits when you had yet to retire, resign or disengage from the service of SEC; conferred a corrupt advantage upon yourself and committed an offence under Section 19 of the Corrupt Practices and Other Related Offences Act 2000.
“That you committed a criminal breach of trust to wit: dishonestly misappropriated the sum of N104,851,154.94 as your severance benefit contrary to Section 311 and punishable under Section 312 of the Penal Code Cap 532 Vol 4 of FCT Abuja 2007.
“That you conferred a corrupt advantage upon yourself when you received the sum of N10,983,488.88 in excess of car grant payable to you and thereby committed an offence contrary to and punishable under Section 19 of the Corrupt Practices and Other Related Offences Act.”
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Legit.ng previously reported that the Centre for Anti-Corruption and Open Leadership (CACOL) wrote a letter to the speaker of the House of Representatives, Yakubu Dogara, alleging high-level corruption against the director-general of the Securities and Exchange Commission (SEC), Mournir Haliru Gwarzo.
In the letter signed by the executive director of CACOL, Debo Adeniran, and made available to Legit.ng, the group listed some companies allegedly having links to Gwarzo with allegations that he had engaged in anti-establishment practices.
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