ICPC drags suspended SEC Director-General to court for allegedly misappropriating N115.8 million

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned the suspended Director-General of the Security and Exchange Commission (SEC), Dr. Mounir Haliru Gwarzo, over an allegation of misappropriating N115.8 million.

Mr. Gwarzo and a Commissioner in SEC, Mr. Zakawanu Garuba, are both facing a five-count charge before Justice Hassan Yusuf Baba of Court 4 High Court of the Federal Capital Territory Abuja.

Gwarzo was accused of paying himself N115.8 million as severance package and car allowance in 2015, while still in the service of SEC, while Garuba is facing allegations of approving N10.9 million for the car allowance.

Gwarzo and Garuba pleaded not guilty to all the charges when they were read to them.

Their counsels pleaded for bail from the court since their clients had kept to the conditions of the administrative bail which ICPC had given them.

Justice Baba, in his ruling, granted the accused bail in the sum of N25 million each, with a surety who is not below the rank of a Deputy Director in the Federal Public Service, resident in and has landed property in the FCT.

See Also

MTN Group proposes full acquisition of IHS Towers in $2.2 billion deal

He also ordered that the documents of the properties of the sureties and the international passports of the accused persons should be submitted to the court.

The case was then adjourned to June 28 and 29 for hearing.