Alleged N115m fraud: Court discharges Gwarzo, one other

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Justice Hussein Baba Yusuf on Tuesday discharged the suspended Director-General of the Securities and Exchange Commission (SEC), Dr Mounir Gwarzo

Independent Corrupt Practices and Other Related Offences Commission charged Gwarzo with an Executive Commissioner in the commission, Zakawanu Garuba, with five counts of alleged misappropriation to the tune of about N115 million and conferment of corrupt advantage on a public officer .

It added that the director-general conferred a corrupt advantage upon himself when he received N10, 983,488.88 in excess of car grant payable to him.The defendants, however, pleaded not guilty to the charges. On Feb. 7, the defendants’ counsel, Abdulhakeem Mustapha, SAN, and Robert Emupkoeruo, informed the court of their intention to file no-case submission.The made the prayer after the prosecuting counsel, Mr Adesina Raheem, told the court that the prosecution was closing its case against the defendants with the testimony of the fifth prosecution witness , Taiwo Olorunyomi.

Mustapha said the prosecution had failed to make out any prima facie case against Gwarzo, adding that the evidence adduced were all contradictory. Counsel to Garuba, Mr. Robert Emukpoeruo, also argued that the prosecution had failed from the evidence adduced to make any prima facie case against the second defendant.

 

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