A High Court of the Federal Capital Territory in Maitama has set free the suspended Director General of the Security and Exchange Commission , Mounir Gwarzo and a Commissioner of the commission, Zakwanu Garuba.
Justice Baba-Yusuf held that the prosecution failed to make out a prima facie case against the defendants. He discharged and acquitted them. The judge held that by virtue of the Investments and Securities Act, the resolution by the board of SEC was not subject to a review by any person or authority.“The evidence of criminal breach of trust was not established and the evidence of the witnesses was discredited under cross-examination,” the judge said.
He said the provision of the Certain Political, Public and Judicial Office Holders Act, 2002 was not applicable to SEC and that the public officers for who the law was meant to apply had been clearly reflected in the law.
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