N1.2bn fraud: Court orders EFCC to detain ex-INEC Chairman, Iwu

By Akin Kuponiyi

The Federal High Court in Ikoyi, Lagos, Southwest Nigeria, on Thursday ordered the Economic and Financial Crimes Commission, EFCC, to detain former chairman of the Independent National Electoral Commission, INEC, Prof. Maurice Iwu till Friday for hearing of his bail application.

Iwu was arraigned before a Federal High court in Ikoyi for allegedly laundering of N1.2 billion.

Iwu, who has been interrogated by the EFCC, was alleged to have been involved in the N23.29 billion poll bribery scandal which characterized the 2015 poll.

Iwu was alleged to have between December 2014 and March 2015, aided the concealment of the sum of N1, 203,000,000 (One Billion, Two Hundred and Three Million Naira)

The said sum was in the bank account of Bio-resources Institute of Nigeria Limited domiciled in the United Bank for Africa, UBA Plc.

The cash in question was about the  election bribery scandal during the 2015 general election.

Iwu pleaded not guilty to the charges.

Hamed Raji, SAN appeared for him, while EFCC counsel Mr Rotimi oyedepo is prosecuting the case.

The presiding Judge, Professor Chuka Obiozor adjourned till tomorrow for the hearing of his bail application and ordered his detention in EFCC’s custody.