BEVERLY HILLS, MAY 05, (THEWILL) – The Independent Corrupt Practices and other related Offences Commission (ICPC) has arraigned the suspended Director General of the Securities and Exchange Commission (SEC), Mounir Gwarzo, before a Federal Capital Territory High Court sitting in Maitama.
Gwarzo and an Executive Commissioner, Corporate Services in the agency, Zakawanu Garuba were arraigned on Tuesday on a five-count charge marked: CR/185/18, in which they were accused of misappropriating about N115million naira.
Gwarzo was accused of among other things, using his position to confer corrupt advantage upon himself when he received N104.8m as severance benefit when he was yet to retire. He was also accused of receiving N10.98m in excess of car grant payable to him
Garuba was accused of among others, using his position to confer corrupt advantage on another public officer by approving the two sets of money Gwarzo allegedly received.
Gwarzo and his co-defendant, Garba, pleaded not guilty when the charges were read to them before the trial judge, Justice Baba-Yusuf.
Defence lawyers, Abdulhakeem Mustapha (SAN) and A. A. Malik told the court about the bail applications they filed for the defendants, which they later moved upon the court’s permission.
Prosecution lawyer, Henry Emore did not object to the bail applications.
He however urged the court to grant bail on terms that will enable the defendants attend court during trial.
Ruling, Justice Hussein Baba-Yusuf granted them bail at N25m, with a surety each, who must be a Deputy Director in any Federal Government ministry or agency.
The judge also directed that the sureties must own land within the FCT, while the defendants are to deposit their international passports with the court’ Registry.
He adjourned to June 28 and 29 for the commencement of trial.
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