JUST IN: Court Acquits Suspended SEC DG, Mounir Gwarzo Over Alleged N115m Fraud

By Abdullateef Jos

A High Court of the Federal Capital Territory sitting at Maitama, on Tuesday, discharged and acquitted the suspended Director General of the Security and Exchange Commission, SEC, Mounir Gwarzo.

 The court, in a ruling that was delivered by Justice Husseini Baba-Yusuf, dismissed a five-count charge the Independent and Corrupt Practices and Other Related Commission, ICPC, preferred against the SEC boss and the Executive Commissioner, Corporate Services at the establishment, Zakawaru Garuba.

The duo were in the charge marked CR/185/18, accused of misappropriating public funds to the tune of about N115million.

ICPC told the court that the defendants committed the offence in June 2015.

 Specifically, the anti-graft agency alleged that Gwarzo pocketed over N104.8m as severance benefit, less than a month after he was appointed.

He was equally accused of receiving over N10m as a car grant, contrary to Section 19 of the Corrupt Practices and Other Related Offences Act, 2000.

 ICPC maintained that the 2nd defendant was involved in the fraud by conferring a corrupt advantage on another public officer.

 He was said to have approved the payments that were made to the suspended SEC boss. However, the court upheld a no-case-submission the Defendants filed with respect to all the allegations against them.

Justice Baba-Yusuf said he was satisfied that the totality of the proof of evidence that was not enough to establish a prima-facie case that would require the court to compel the Defendants to enter their defence to the charge. He held that ICPC failed to prove any of the essential elements of the offence against the Defendants.

 According to the court, evidence that was adduced by the ICPC were not only contradictory, but were manifestly discredited to the extent that no reasonable court or tribunal could rely on it to convict the Defendants.

 “The 1st Defendant is hereby discharged and acquitted of counts 1, 2 and 3 and by inference, all the charge against him”, the trial Judge held, even as he also acquitted the 2nd Defendant of the two counts against him.

The court had on May 6, 2018, granted the Defendants bail in the sum of N25m each and a surety each in like sum, shortly after they pleaded not guilty to the charge.

It will be recalled that Gwarzo was in November 2017, suspended by the Minister of Finance, Mrs Kemi Adeosun for alleged financial recklessness.

Some of the allegations against the Defendants 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.”


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Check Also

JUST IN: Kwara Appoints New Etsu Of Patigi

By Yakubu Lawal Kwara state Gov. Abdulfatah Ahmed has approved the appointment of Umar Ibrahim Bologi as the new Etsu of Patigi in the Patigi local government area of Kwara. The appointment was contained in a letter signed by Alhaji Saidu Habeeb, the state Commissioner for Local Government, Chieftaincy Affairs and Community Development and addressed to the new monarch. The letter read: “I am directed to inform Your Highness that His Excellency, the Executive Governor of Kwara State, Alhaji Abdulfatah Ahmed in exercise of the powers conferred on him by Section 3 and 5 of Chief (Appointment and Deposition) Law ...

Nigerian Railway Denies Report Of Train Killing Two Persons In Kano

By Fatai Abdullahi The Nigerian Railway Corporation (NRC) on Thursday denied a report that a train crushed two people to death in Kano. Abdullahi Alhaji, the Public Relations Officer of the Zaria District of the corporation disclosed this in a statement on Thursday in Zaria, Kaduna State. He claimed that some individuals brought out mutilated corpses and placed on the rail track to create impression of the purported accident. “On behalf of the Nigerian Railway Corporation management, Northern District, Zaria, I hereby call the attention of the general public, especially people of Nasarawa LGA of Kano State in respect of ...

JUST IN: Buhari Assents Minimum Wage Bill Of N30,000

By Yakubu Lawal President Muhammadu Buhari has signed into law the Minimum Wage Repeal and Re-Enactment Act, 2019. By this act, the new minimum wage is now N30,000. The President assented to the Act on Thursday in Abuja, mandating all employers of labour across the country to pay workers a minimum of N30,000 monthly wage. The National Assembly had submitted the minimum wage bill to the President since March 27. The bill approving N30,000 as the new national minimum wage was passed by both chambers of National Asaembly before they went on break for the 2019 general elections. Earlier in ...

Gombe Govt To Establish Hippopotamus Colony

By Ibrahim Baba Alhaji Sa’ad Hashidu, the state Director of Forestry and Wildlife Management said this in an interview with the News Agency of Nigeria (NAN) on Thursday in Gombe. Hashidu said the issue of persistent attacks between the hippos and fishermen in Dadin-Kowa was discussed by the National Council on Environment in 2017 and agreed that a hippo colony be established as a permanent solution. The director added that the meeting mandated the National Park Service Board to liaise with the state government to work out the modalities. “With regard to the outcome of the council’s decision reached in ...

Banditry: Army Arrests Anka LGA Vice Chairman In Zamfara

By Ibrahim Baba Troops of the “Operation Sharan Daji” in Zamfara have arrested the Vice Chairman of Anka Local Government of the state, Mr. Yahuza Wuya for alleged link to bandits. The Acting Information Officer of the operation, Maj. Clement Abiade confirmed the arrest of Wuya in a statement made available to newsmen in Abuja Thursday. Abiade said the council vice chairman was picked up on April 13 based on credible intelligence linking him to bandits’ activities in Wuya and Sunke communities. He alleged that Wuya “seamlessly assist in selling rustled/stolen cows and donkeys as well as giving information about ...

Presidential Panel Recovers $20m Hidden In Bank

By Talatu Bala The Special Presidential Investigation Panel for the Recovery of Public Property on Wednesday said it had recovered the sum of 20 million dollars from one of the commercial banks in the country. The panel’s Head, Media and Communication, Ms Lucie-Ann Laha, in a statement quoted its chairman Mr Okoi Obono-Obla, as making the disclosure during a meeting with Prof. Muhammad Al-Amin, the Managing Director of Federal Housing Authority (FHA). The money is said to be part of the 232 million dollars unremitted to the Federal Government’s Treasury Single Account (TSA) by an unnamed agency. The chairman refrained ...

Powered by Dragonballsuper Youtube Download animeshow

%d bloggers like this: