8th August, 2019
By Akin Kuponiyi
Former Chairman of the Independent National Electoral Commission, INEC, Prof. Maurice Iwu, has arrived the Federal High Court, Lagos for arraignment over alleged N1.2bn fraud and money laundering.
The Economic and Financial Crimes Commission, EFCC, had said it would arraign Iwu over alleged money laundering on Wednesday without announcing the date for his arraignment.
The commission alleged that between December 2014 and March 2015, Iwu hid N1.2 billion in the bank account of Bio-resources Institute of Nigeria Ltd. domiciled in the United Bank for Africa Plc.
The money was believed to be part of the N23.29 billion slush fund allegedly shared by former petroleum minister, Diezani Allison-Madueke, to influence the outcome of the 2015 presidential elections.
Iwu was fingered as one of the beneficiaries of the fund, including some INEC officials who are facing trial.