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Alleged N115m Fraud: Ex-SEC DG Gwarzo to make no-case submission

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THE suspended Director-General of the Securities and Exchange Commission, Dr. Mounir Gwarzo; and the Executive Commissioner, Zakwanu Garba, on Thursday informed an FCT High Court Maitama that they would make a no-case submission in the charge filed against them.

The duo were arraigned by the Independent Corrupt Practices and Other Related Offences Commission before Justice Husseini Baba-Yusuf, on five counts bordering on fraud.

The defendants, through their counsels, Abdulhakeem Mustapha (SAN); and Robert Emupkoeruo respectively, informed the court of their intention to file no-case submission.

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.

The defendants’ counsels stated that they were making the submission pursuant to Section 302 of the Administration of Criminal Justice Act (ACJA), 2015.

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.

He stated that the President was to appoint the D-G based on recommendations of the minister (of Finance) and confirmed by the Senate.

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.

“He has spent two years (as executive commissioner) by the time he was appointed Director-General,” the witness said.

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.

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.

The witness was asked by the senior advocate to read the political office holders affected by Certain Political Officer Holders Salaries and Emolument Act.

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.

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.

According to him, “the major document we looked at, to conclude that it is illegal, is Exhibit ICPC 19 “(Certain Political Officer Holders Salaries and Emolument Act).”

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.

After listening to their submission, Baba-Yusuf adjourned until March 18 for adoption of addresses on the no-case submission by the defendants.

The News Agency of Nigeria reports that the ICPC accused Gwarzo of committing fraud to the tune of about N115m in June 2015, when he held forth as SEC Director-General.

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.

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.

Garuba, on the other hand, was accused by ICPC of allegedly conniving with Gwarzo to commit the fraud. (NAN)

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Ex Governor Abdullahi Ganduje, Wife, others To Be Arraigned April 17 Over Dollar Video…..

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The Kano High Court is set to arraign Kano State’s immediate previous governor, Abdullahi Ganduje, on April 17, 2024, on charges of bribery, diversion, and theft of money, including the alleged acceptance of $413,000 and N1.38 billion in bribes.

Haruna Dederi, Kano State Attorney General and Commissioner of Justice, confirmed the situation, saying Ganduje would be charged with his wife and six others.

The accused individuals named in the summons are Abdullahi Umar Ganduje, Hafsat Umar, Abubakar Bawuro, Umar Abdullahi Umar, Jibrilla Muhammad, Lamash Properties Ltd, Safari Textiles Ltd, and Lesage General Enterprises.

The Kano State Government, which initiated the criminal suit against the eight respondents, has declared its readiness to present 15 witnesses to testify before Justice Usman Na’aba of State High Court number four.

“It is very true. We have filed the case and it’s going to hold on the 17th of April, 2024. What I cannot confirm is whether he is served or not, but he will definitely be served,” he said.

Dederi further highlighted the significance of accountability in governance, remarking, “What he (Ganduje) doesn’t understand is that you cannot run away from the evil day, it will definitely come to you, and this will even serve as a deterrence to all of us that are also in government now.”

The commissioner also addressed the jurisdictional aspect of the case, asserting,
“He was saying that we can’t prosecute him, forgetting that the offence also falls under the category of the state offences,” he said.

“It’s not totally a federal affair and we have even appealed to Justice Liman ruling on that.”

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Just In: Emefiele arrives Lagos court for arraignment

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The embattled former Central Bank of Nigeria Governor, Godwin Emefiele, has arrived at the Ikeja State High Court in Lagos for
his arraignment over alleged abuse of office and allocation of billions of dollars.

Emefiele, alongside his co-defendant, one Henry Isioma Omole, will be arraigned on fresh 26 counts before Justice Rahman Oshodi this morning.

In the charge marked ID/23787c/2024 and dated April 3, 2024, the EFCC alleged that Emefiele abused his office between 2022 and 2023 in Lagos.

The commission alleged that the former CBN governor “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”

Details later…

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Look Beyond Sentiments, Fagade Urges Critics of Tinubu’s Appointments… Congratulates FIRS Boss, Zacch Adedeji

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Businessman and chieftain of the All Progressives Congress (APC) in Oyo state, Chief Abisoye Fagade has told those accusing President Bola Ahmed Tinubu of nepotism to jettison primordial sentiments, vindictiveness and bitterness with a view to supporting the current administration in its drive to take Nigeria out of the doldrums.

Fagade’s submission came against the background of insinuations from some quarters that appointments made so far by President Bola Tinubu was skewed in favour of the Yoruba ethnic group or people in the south western part of the country even though there have been counter reactions from eminent personalities from all parts of the country that the accusation of nepotism against Mr. President was unfounded and invalid.

In a statement issued on Wednesday and made available to journalists in Ibadan, Fagade described the Tuesday confirmation of Dr. Zacch Adedeji as the substantive chairman of the Federal Inland Revenue Service (FIRS) by the Nigerian Senate as “a step in the right direction taken to facilitate the quick realization of economic recovery agenda of the Tinubu administration.

“The appointment of Dr. Adedeji as the FIRS boss as well as other cerebral financial and economic management experts to man one key post or the other in the current administration will no doubt yield the desired results as Nigerians should expect economic rejuvenation, wealth creation and naira stability in no time. Governance is no tea party and one fundamental thing in the life of any government is having the right peg in the right hole and not the other way round.

“It is essential we congratulate our own Zacch Adedeji on the confirmation of his appointment as the FIRS boss by the Nigerian Senate in view of the fact that our confidence and trust in him as a competent administrator, seasoned financial expert and unique patriot remain constant. There are high expectations about Nigerian economy being diversified for obvious reasons by the Tinubu administration and we believe with the likes of Adedeji in FIRS, the goal would be achieved sooner than later.

“Above all, we appeal to all stakeholders in the affairs of our dear country to always eschew jingoism, ethnic biases or religious consideration on any matter relating to the interest of the most populous black nation in the world. The time to fix Nigeria is now and with the person of President Tinubu at the helms of affairs, the massive turnaround desired in our socio-economic and political architecture would begin to materialize very soon and it would not only be consolidated but also sustained for the collective benefits of all and sundry”. Fagade stated.

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