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 was 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 criminal breach of trust and aiding and a baring diversion of funds as severance benefits to Gwarzo while he was still in the service as Director-General.
The two defendants were being charged to court by the ICPC on behalf of the Federal Government.