Alleged N1.2bn fraud: Trial of ex-INEC boss Prof Iwu stalled

Prof Maurice Iwu

Former INEC Chairman, Prof Maurice Iwu

By Akin Kuponiyi

The trial of Professor Maurice Iwu, former Chairman of the Independent National Electoral Commission, INEC over alleged N1.23 billion money laundering by the Economic and Financial Crimes Commission, EFCC was stalled at Federal High Court sitting in Lagos on Monday.

When the matter was mentioned, Professor Iwu was not in court and was not represented by any counsel

The prosecutor was also absent.

Therefore, the Judge was forced to adjourn the case till 24th, September, 2024.

In the charge filed by the EFCC, the former INEC was accused of committing the offence in the build-up to the 2015 general elections.

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According to the charge sheet, Iwu between December 2014 and March 27, 2015, allegedly aided the concealment of N1.23 billion in the account of his firm, Bioresources company.

EFCC said he ought to have reasonably known to him that the N1.23 billion formed part of proceeds of an unlawful act, to wit: fraud.”

It was further stated that the offense committed by the ex-INEC chairman is contrary to sections 18(a) and 15 (2) (a) of the Money Laundering ((Prohibition) Act 2011 and was liable to be punished under Section 15(3) of the same Act.

When the charges were read to him when he was first arraigned, Iwu pleaded not guilty to the charge.

Professor Iwu is currently on bail granted to him by the court.

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