N1.2bn fraud: Ex-INEC chairman, Iwu, faces arraignment

By AdvocateNews on 08/08/2019

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Prof Maurice Iwu
Prof Maurice Iwu

The Economic and Financial Crimes Commission is set to arraign a former Chairman of the Independent National Electoral Commission, Prof. Maurice Iwu, for alleged N1.2bn fraud.

 Iwu will be arraigned at a Federal High Court, sitting in Lagos, on  four counts bordering on money laundering.

The EFCC acting spokesperson, Tony Orilade, confirmed the planned arraignment on Wednesday, but did not disclose when the former INEC chairman would appear in court.

 

Iwu was alleged to have between December 2014 and March 2015, concealed N1.2bn in the bank account of Bioresources Institute of Nigeria Limited domiciled in the United Bank for Africa Plc.

The money was believed to be part of the N23.29bn slush fund allegedly shared by former petroleum minister, Diezani Allison-Madueke, to influence the outcome of the 2015 presidential election.

Iwu was fingered as one of the beneficiaries of the fund for which some INEC officials are facing trial.

 

An umbrella organisation for over 150 anti-graft groups, the Civil Society Network Against Corruption, had earlier asked the EFCC to investigate and prosecute the ex-INEC boss, resident electoral commissioners and administrative secretaries who took bribes during the 2015 general polls.

Posted 08/08/2019 10:24:07 AM

 

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