Home News Suspended SEC boss spends four hours under ICPC drills

Suspended SEC boss spends four hours under ICPC drills


The Independent Corrupt Practices and other related offences Commission (ICPC), has detained suspended Director-General of the Securities and Exchange Commission, Mounir Gwarzo for some hours during which he was he interrogated on  allegations of financial misappropriation.

Gwarzo was detained for four hours before being released with instructions to make himself available to the anti-graft agency at a later date. The release was after he met the bail conditions set by the ICPC.

Gwarzo, who was 30 months old as SEC DG, was suspended alongside the Head of Media Division, Abdulsalam Naif, and Head of Legal Department, Anastasia Braimoh.

The suspension, according to a statement by the Finance Ministry, is to allow an unhindered investigation into several allegations of financial impropriety levelled against Gwarzo.

These allegations include Gwarzo allegedly paying himself N104 million severance package when he was appointed DG SEC from the position of a Director in the same Commission.

He is also alleged to have awarded contracts to firms he has stakes in, flouting public service rules guarding against conflict of interests.

He is also being investigated by the Economic and Financial Crimes Commission (EFCC).