Court Acquits Suspended SEC DG Gwarzo
Suspended SEC DG Mounir Gwarzo

A Federal Capital Territory (FCT) High Court Tuesday discharged and acquitted Mounir Gwarzo, the suspended Director General of the Security and Exchange Commission (SEC).

Concise News understands that Gwarzo was arraigned on a five-count charge by the Independent and Corrupt Practices and Other Related Commission (ICPC).

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He was arraigned along with Zakawani Garba, a commissioner in SEC for allegedly paying himself severance benefits of N104.8m and N10.4m in excess of car grant while still in service.

The trial judge, Justice Husseini Baba-Yusuf, ruling on his no-case submission, held that the ICPC did not prove any of the essential elements of the offence against Gwarzo.

According to the judge, evidence led by ICPC were contradictory and have been so discredited that no reasonable tribunal could find the defendant guilty.

The judge held that the first defendant “is hereby discharged and acquitted of counts 1, 2 and 3 and by inference, all the charge against him.”

The judge also discharged and acquitted the second defendant, Garba of the two counts against him.

Gwarzo had on 5 June, 2018, filed a suit before the National Industrial Court challenging his suspension by the then Minister of Finance, Kemi Adeosun.

He was suspended from office in November 2017 over alleged financial misappropriation.