{"id":30639,"date":"2019-03-18T19:34:51","date_gmt":"2019-03-18T18:34:51","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=30639"},"modified":"2019-03-18T19:34:51","modified_gmt":"2019-03-18T18:34:51","slug":"alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/","title":{"rendered":"Alleged N115m Scam: Court To Rule On Ex-SEC DG Gwarzo\u00a0 No-Case Submission April 12"},"content":{"rendered":"<div dir=\"ltr\">A federal capital territory high court sitting in maitama Abuja, will on April 12, 2019 rule on the application for no case submission filed by the sacked former Director General of the Nigerian security and Exchange commission, SEC, Dr. Mounir Gwarzo and the Executive Commissioner, Zakwanu Garba.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Trial Judge, JusticeHussani Baba- Yusuf fixed the date yesterday after prosecuting counsel and both the first and second defendant counsels adopt their addresses on the no case submission filed by Gwarzo and Garba.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The sacked Director-General of the Securities and Exchange Commission, Dr. Mounir Gwarzo; and the Executive Commissioner, Zakwanu Garba, had informed an FCT High Court Maitama that they would make a no-case submission in the charge filed against them today (yesterday).<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The duo were arraigned by the Independent Corrupt Practices and Other Related Offences Commission, ICPC,\u00a0 before Justice Husseini Baba-Yusuf, on five counts bordering on fraud.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The defendants, through their counsels, Abdulhakeem Mustapha (SAN); and Robert Emupkoeruo respectively, yesterday adopt their addresses on the\u00a0 no-case submission they had filed before the court .<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">This they prayed after the prosecuting counsel, Mr. Adesina Raheem, had informed the court that the prosecution was closing its case against the defendants with the testimony of the fifth prosecution witness (PW5), Taiwo Olorunyomi.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The defendants\u2019 counsels stated that they have hinged their\u00a0 submission pursuant to Section 302 of the Administration of Criminal Justice Act (ACJA), 2015.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Earlier, while being cross examined by Mustapha, Olorunyomi told the court that the office of SEC executive commissioner and that of the D-G were different.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">He stated that the President was to appoint the D-G based on recommendations of the minister (of Finance) and confirmed by the Senate.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">According to him, a person could not occupy the offices of executive commissioner and D-G at the same time, adding that Gwarzo was an executive commissioner before May, 2015 when he was appointed SEC DG.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\u201cHe has spent two years (as executive commissioner) by the time he was appointed Director-General,\u201d the witness said.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Olorunyomi, who said he had been an investigator since 2005, told the court that an investigator was supposed to critique all material evidence for or against a defendant under investigation.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">He, however, said he was seeing Exhibit D9 shown to him for the first time in the court, saying that the six SEC officials who signed the document confirmed that the payment made to Gwarzo was correct.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The witness was asked by the senior advocate to read the political office holders affected by Certain Political Officer Holders Salaries and Emolument Act.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The witness stated that the Central Bank of Nigeria, Nigerian Ports Authority, Federal Inland Revenue Services (FIRS) and SEC were not listed in the Act.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">While being cross examined by counsel for Garuba, Emupkoeruo, the witness stated that the team of investigators concluded that Exhibit ICPC 3 (extract from SEC Board meeting of July, 2002) was illegal.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">According to him, \u201cthe major document we looked at, to conclude that it is illegal, is Exhibit ICPC 19 \u201c(Certain Political Officer Holders Salaries and Emolument Act).\u201d<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">He told the court that office of executive commissioner was for a fixed period of time, adding that when the first defendant left the office of executive commissioner that tenure came to an end.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">After listening to their submission, Baba-Yusuf adjourned until March 18 (yesterday) for adoption of addresses on the no-case submission by the defendants.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The ICPC had\u00a0 accused Gwarzo of committing fraud to the tune of about N115m in June 2015, when he held forth as SEC Director-General.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">It alleged that the suspended D-G received the sum of N104,851,154.94 as severance benefits when he had yet to retire, resign or disengage from the service of SEC.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">It added that he conferred a corrupt advantage upon himself when he received the sum of N10,983,488.88 in excess of car grant payable to him.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Garuba, on the other hand, was accused by ICPC of allegedly conniving with Gwarzo to commit the\u00a0 alleged fraud which contravene the constitution of the federal Republic of Nigeria .<\/div>\n<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>federal capital territory high court sitting in maitama Abuja, will on April 12, 2019 rule on the application for no case submission filed by the sacked former Director General <!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":19194,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,4648],"tags":[574],"coauthors":[2391],"class_list":["post-30639","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-op-ed","tag-mounir-gwarzo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Alleged N115m Scam: Court To Rule On Ex-SEC DG Gwarzo\u00a0 No-Case Submission April 12 - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alleged N115m Scam: Court To Rule On Ex-SEC DG Gwarzo\u00a0 No-Case Submission April 12 - National Wire\" \/>\n<meta property=\"og:description\" content=\"federal capital territory high court sitting in maitama Abuja, will on April 12, 2019 rule on the application for no case submission filed by the sacked former Director General\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-18T18:34:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/11\/DG-SEC-Mr.-Mounir-Gwarzo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/11\/DG-SEC-Mr.-Mounir-Gwarzo.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/11\/DG-SEC-Mr.-Mounir-Gwarzo.jpg\",\"width\":1280,\"height\":720,\"caption\":\"DG-SEC-Mr.-Mounir-Gwarzo\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/\",\"name\":\"Alleged N115m Scam: Court To Rule On Ex-SEC DG Gwarzo\u00a0 No-Case Submission April 12 - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/#primaryimage\"},\"datePublished\":\"2019-03-18T18:34:51+00:00\",\"dateModified\":\"2019-03-18T18:34:51+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Alleged N115m Scam: Court To Rule On Ex-SEC DG Gwarzo\u00a0 No-Case Submission April 12\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Alleged N115m Scam: Court To Rule On Ex-SEC DG Gwarzo\u00a0 No-Case Submission April 12 - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/","og_locale":"en_US","og_type":"article","og_title":"Alleged N115m Scam: Court To Rule On Ex-SEC DG Gwarzo\u00a0 No-Case Submission April 12 - National Wire","og_description":"federal capital territory high court sitting in maitama Abuja, will on April 12, 2019 rule on the application for no case submission filed by the sacked former Director General","og_url":"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/","og_site_name":"National Wire","article_published_time":"2019-03-18T18:34:51+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/11\/DG-SEC-Mr.-Mounir-Gwarzo.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/11\/DG-SEC-Mr.-Mounir-Gwarzo.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/11\/DG-SEC-Mr.-Mounir-Gwarzo.jpg","width":1280,"height":720,"caption":"DG-SEC-Mr.-Mounir-Gwarzo"},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/","name":"Alleged N115m Scam: Court To Rule On Ex-SEC DG Gwarzo\u00a0 No-Case Submission April 12 - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/#primaryimage"},"datePublished":"2019-03-18T18:34:51+00:00","dateModified":"2019-03-18T18:34:51+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/alleged-n115m-scam-court-to-rule-on-ex-sec-dg-gwarzo-no-case-submission-april-12\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"Alleged N115m Scam: Court To Rule On Ex-SEC DG Gwarzo\u00a0 No-Case Submission April 12"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/30639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=30639"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/30639\/revisions"}],"predecessor-version":[{"id":30640,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/30639\/revisions\/30640"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/19194"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=30639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=30639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=30639"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=30639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}