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BREAKING: ICPC Arraigns Gwarzo, Suspended SEC DG, Over 'N115.2million Financial improprieties'

Gwarzo, alongside Zakawani Garba, a commissioner in the SEC, were arraigned on a five-count charge bordering on financial improprieties.

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The Independent Corrupt Practices Commission (ICPC) has arraigned suspended Director General of the Securities and Exchange Commission (SEC), Mounir Gwarzo, before an Abuja Hugh Court, for allegedly paying himself severance benefits of N104.8m and N10.4m in excess of car grant while still in service. 

Gwarzo, alongside Zakawani Garba, a commissioner in the SEC, was arraigned on a five-count charge bordering on financial improprieties.

Justice Hussein Baba-Yusuf, the presiding judge, however granted them bail in the sum of N25m each and a surety each in like sum. 

The judge directed that the sureties must be civil servants in a Federal Government agency of not below the rank of Deputy Director.

Editor's Note: The figures in this story were erroneously stated as N104.8million and N10.4million. We have since discovered that they are N104.9million and N10million. The error is regretted.

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