The Independent Corrupt Practices and Other Related Offences Commission of Nigeria investigating the former Director-General of the Securities and Exchange Commission, Mr Mounir Gwarzo has charged him over the N105m severance package he got in June, 2015.
Apart from the severance package, the ICPC also flagged another N10m that he took as excess car grant payable to him.
The Charge marked CR/185/18, which was filed before a Federal Capital Territory High Court, Abuja accused the former SEC Nigeria boss of committing the fraud in 2015.
Also, two charges were made against the SEC Executive Commissioner, Corporate Service, Mr Zakwanu Garuba for alleged collusion with Mr Gwarzo.
Mr Gwarzo who was suspended last year by the Ministry of Finance, over allegations of the violation of laid down corporate governance procedures, which include granting himself severance pay and awarding contracts to companies tied to his name and family members, as well as other expenditures, that did not follow the regulatory provisions.
After a panel of inquiry set up by the Federal Finance Ministry to investigate Mr Gwarzo submitted its report recommending his sack, the ex-SEC DG was handed over to the ICPC for further interrogation and investigation.
In a recent House Committee on Capital Markets and Other Institutions hearing into the case, both the Finance Minister Mrs Kemi Adeosun and the former SEC Nigeria DG Mr Mounir Gwarzo made their submissions, stating their cases on the fraud allegations.
Gwarzo denied all the allegations made against him, making a case that he was being persecuted over his insistence on the probe and audit of a top rated quoted company (Oando PLC) in the country.
Mrs Adeosun denied the submission of Gwarzo, stating that he was facing charges of fraud levelled against him.
The Charge marked CR/185/18, was filed before a Federal Capital Territory High Court, Abuja, the ICPC accused the former SEC Nigeria DG of committing the fraud in June 2015.
The ICPC also preferred two charges against the SEC Executive Commissioner, Corporate Services, Zakwanu Garuba, for allegedly colluding with Mr Gwarzo.
A statement from the charges reads “That you Mounir Gwarzo, on or about June 2015, while being the Director-General of the Securities and Exchange Commission, received the sum of N104, 851, 154.94 as severance benefits when you had yet to retire, resign or disengage from the service of SEC. You conferred a corrupt advantage upon yourself and committed an offence under Section 19 of the Corrupt Practices and Other Related Offences Act 2000.
“That you committed a criminal breach of trust to wit: dishonestly misappropriated the sum of N104, 851, 154.94 as your severance benefit contrary to Section 311 and punishable under Section 312 of the Penal Code Cap 532 Vol 4 of FCT Abuja 2007.
“That you conferred a corrupt advantage upon yourself when you received the sum of N10, 983, 488.88 in excess of car grant payable to you and thereby committed an offence contrary to and punishable under Section 19 of the Corrupt Practices and Other Related Offences Act.”
Mr Gwarzo was appointed the SEC DG in an acting capacity and later confirmed in 2015 by former President Goodluck Ebele Jonathan.