Some months after his suspension, the director-general of the Securities and Exchange Commission (SEC), Mounir Gwarzo, was on Tuesday, June 5, arraigned in court by the Independent Corrupt Practices and other related Offences Commission (ICPC).
Gwarzo was arraigned over allegations of financial misappropriation, according to a report by Premium Times.
The report said the charges read before an FCT High Court, he was accused with Zakawani Garba, a commissioner in the SEC, of paying himself severance benefits of N104.8 million and N10.4 million in excess of car grant while still in service.
It was learnt that Justice Hussein Baba-Yusuf granted them bail in the sum of N25 million each and a surety each in like sum.
The judge also reportedly directed that the surety must be a civil servant in a federal government agency of not below the rank of deputy director.
Source: Naija.ng