Across Nigeria Corruption Matters Main News News

Suspended SEC boss, commissioner arraigned for misappropriating N115m, get bail

The Independent Corrupt Practices and other related offences Commission on Tuesday arraigned the suspended Director-General of the Securities and Exchange Commission, Mounir Gwarzo, and a commissioner, Zakwanu Garuba, for acts of corruption involving alleged mismanagement of over N115m.

The ICPC accused Gawarzo of receiving between May and June 2015 the sum of N104,851,154.94 as severance benefit when he had yet to retire, resign or disengage from service and also the sum of N10,983,488.88 in excess of car grant” in the same period.

Garuba, an Executive Commissioner, Corporate Services of SEC, was accused of conferring a corrupt advantage on another public officer in the person of Gwarzo by approving the payments to the suspended SEC boss.

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