Alleged N115m fraud: Court fixes Tuesday to rule in ex-SEC DG’s no-case-submission

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Alleged N115m fraud: Court fixes Tuesday to rule in ex-SEC DG’s no-case-submission
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An FCT High Court on Friday is to deliver ruling on Tuesday in the no- case- submission filed by the suspended Director-General of the Securities...

An FCT High Court on Friday is to deliver ruling on Tuesday in the no- case- submission filed by the suspended Director-General of the Securities and Exchange Commission , Dr Mounir Gwarzo on alleged of N115 fraud.

Gwarzo’s counsel, Mustapha SAN, on March 18 urged the court to hold that the prosecution has not been able to adduce any credible evidence to make the defendant enter any defence. He submitted that the prosecution in its written address on the submission relied on the law on certain political office holders and admitted that SEC was not mentioned in the said law.

He said the evidence adduced by the prosecution during hearing has not established any ingredients of the offence said to have been committed by Garuba.He, then, urged the court not only to uphold the no-case submission but also discharge and acquit the second defendant. He argued that there was no single word of severance benefit in the SEC Board resolution in July, 2002 .

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