Court Grants Suspended SEC DG Bail

The Independent Corrupt Practices Commission (ICPC) has arraigned suspended Director General of the Securities and Exchange Commission (SEC), Mounir Gwarzo on allegations of financial misappropriation. 

In the charges read before an FCT High Court, he was accused on five-count charges alongside Zakawani Garba, a commissioner in the SEC of paying himself severance benefits of N104.8m and N10.4m in excess of car grant while still in service. 

Meanwhile, Justice Hussein Baba-Yusuf has granted them bail in the sum of N25m each and a surety each in like sum.

The judge directed that the surety must be civil servant in a Federal Government agency of not below the rank of deputy director.

Details later…

 

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