Ex-DG SEC, Mounir Gwarzo, arraigned for over N115m fraud
A prosecution witness has said that the severance benefit received by the suspended Director General of the Security and Exchange Commission, Mounir Gwarzo, is illegal.
The witness, Mr. Sodipo Olusola an investigator with the Independent Corrupt Practices and other related offences Commission, ICPC said Mr. Gwarzo received N104.8m instead of N5.8m as stipulated in the Certain Political Officers Salaries and Allowances Act 2008 as amended.
Mr. Mounir Gwarzo was arraigned on allegations of fraud by the Independent Corrupt Practices and other related Offences Commission (ICPC). He was arraigned alongside a commissioner at the commission, Zakawanu Garuba.
Mr. Garuba was accused of abusing his office by allowing the payments to Mr. Gwarzo.
At the resumed trial on Friday, 19 October 2018, Mr. Olusola said, the annual basic salary payable to the first defendant (Mounir Gwarzo) as stipulated in the Act is about N1.9m and the severance gratuity is about N5.8m which is 300% of the annual basic salary.
Mr. Olusola said he commenced the investigation on Mr. Gwarzo after a petition was assigned to him and his partner, Taiwo Olorunyomi in January 2017. He said the petition was written by Voice Against Corruption and signed by Mr. Isah Yakubu on behalf of the organization.
The third prosecution witness, Mr. Hassan Sidi, a staff of Guarantee Trust Bank, told the court that N104,851,154.94 was paid into Mr. Gwarzo’s account June 5, 2015. He also said N24,388,886 was paid into the same account on 17 June 2015.
The bank statement of both defendants, the petition written by the Voice Against Corruption and other documents were entered as exhibits for the prosecution.
Justice Hussain Baba-Yusuf adjourned the matter until 20 November 2018 for continuation.
Recall Mr. Gwarzo was suspended from the commission by the then Finance Minister, Kemi Adeosun, in November 2017, Over allegations of fraud.Mounir Gwarzo
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