The Independent Corrupt Practices and other related offences Commission ICPC, has announced that it has completed investigations into alleged fraudulent activities involving Mr. Mounir Gwarzo, the suspended Director General of the Securities and Exchange Commission
The Independent Corrupt Practices and other related offences Commission ICPC, has announced that it has completed investigations into alleged fraudulent activities involving Mr. Mounir Gwarzo, the suspended Director General of the Securities and Exchange Commission.
Mrs. Rasheedat Okoduwa, the spokesperson for the ICPC, confirmed that the case file had indeed been investigated and sent to the legal department of the Commission for action.
Okoduwa said, “I can confirm that the investigations into the SEC DG regarding his activities at the exchange commission have been completed. The case file has also been sent to the legal department for further action. That is all I can say for now.”
Mr. Mounir Gwarzo was suspended on November 29, 2017 to allow investigations into various fraudulent allegations against him in a petition sent to the federal ministry of finance.
One of the allegations was that Gwarzo paid himself an allowance of over N104m in less than a month after assuming office.
He also allegedly awarded contracts to some firms he had interests in or firms owned by his relatives and cronies. The firms include: Outbound Investment Limited, Medusa Investment Limited, Northwind Environmental Services, Micro-Technologies Nigeria Limited, Tida International Limited, Outlook Communication, Acromac Nigeria Limited, Balfort International Limited and Interactive Worldwide Nigeria Limited.