SEC D-G Arraigned In Court Over Graft

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) on Thursday arraigned the suspended Director-General, Securities and Exchange Commission (SEC), Dr. Mounir Gwarzo in an FCT High Court in Apo.

He was arraigned alongside a Principal Manager, National Identity Management Commission (NIMC), Jamila  Muhammad.

Gwarzo and Muhammad were arraigned before Justice Olukayode Adeniyi, on 14 counts bordering on gratification and abuse of office.

ICPC alleged that Gwarzo on or about Dec. 28, 2016 while serving as SEC DG knowingly held a private interest as a director and shareholder of Outbound Investment Limited, a company which was awarded a contract to supply and install 12 units of air conditioners.

The anti graft agency alleged that four units of refrigerators at SEC Lagos zonal office were bought by SEC for N3. 4 million contrary to and punishable under Section 12 of Corrupt Practices and Related Offences Act, 2000.

ICPC also alleged that, among things, used his position as SEC DG to gratify himself when Outbound Investment Limited was awarded the contract to supply and install 12 units of air conditioners and four units of refrigerators at SEC Lagos zonal office by the Commission, thereby committed an offence contrary to and punishable under Section 19 of the ICPC Act.

The ICPC alleged that Muhammad, on about Nov. 15, 2015, while being a public officer used her position as Principal Manager  at NIMC to gratify herself.

ICPC alleged that when Outlook Communications Limited, where she was a shareholder and director was awarded a contract to air a 60-minute awareness campaign radio jingles on e-dividend in the North-East region for the sum of N798 million, contrary to and punishable under Section 19 of the ICPC Act.

She was further, alleged to have knowingly and directly held a private interest as a shareholder and director of Outlook Communications Limited, which was awarded a contract to air a 60-minute awareness campaign radio jingles on e-dividend in the North-Central states for the sum of N1. 3 million by SEC thereby committed an offence contrary to and punishable under Section 12 of Corrupt Practices and Related Offences Act, 2000.

Both defendants pleaded not guilty when the charges were read to them in court.

Ruling in the defendants’ bail applications, Justice Adeniyi held that bail was not meant to set the defendants free but to ensure their attendance in court to face trial.

He added that the defendants were statutorily entitled to bail in accordance with the provision of the Administration of Criminal Justice Act, 2015.

Justice Adeniyi, therefore, admitted each of the defendants to N10 million bail with one surety in like sum.

The surety, according to him, must be a resident of the FCT and a civil servant on the employment of either the Federal Government or any of its agencies or FCT Administration or any of its agencies.

The judge ordered that the defendants be remanded at Kuje Correctional Facility pending the fulfilment of their bail conditions.

He then adjourned the matter until April 22 and April 23 for commencement of trial.

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