The Independent Corrupt Practices and other related Offences Commission (ICPC) has arraigned the suspended Director General of the Securities and Exchange Commission (SEC), Mounir Gwarzo, before a Federal Capital Territory High Court sitting in Maitama.
He is arraigned on charges bordering on criminal breach of trust and aiding diversion of funds.
The anti-graft commission also preferred charges against the SEC Executive Commissioner, Corporate Services, Zakwanu Garuba, for allegedly conniving with Gwarzo to commit the fraud.
Gwarzo and his co-defendant, Zakawani Garba during court proceedings on Tuesday entered a not guilty plea to the five-count charge of fraud.
Mr Gwarzo while he was still in the service as Director General.
The two defendants are being charged to court by the ICPC on behalf of the Federal Government.
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