Chidi Samuel|
The Federal High Court Ikoyi on Friday granted former INEC boss, Professor Maurice Iwu bail to the tune of N1 billion.
Iwu, who is standing trial on four counts charge of concealment, fraud and money laundering to the tune of N1.2bn, will, however, be remanded in the Ikoyi prison until he meets the bail conditions.
At the resumed hearing of the trial on Friday, counsel to EFCC, Rotimi Oyedepo, told the court there was evidence of the possibility of Iwu intimidating or interfering with the witnesses if he was granted bail, and therefore, urged the court to use its discretion not to grant the bail.
Iwu’s lawyer, Ahmad Raji (SAN), had earlier urged the court to grant him bail on the grounds of self-recognizance and secondly on liberal terms.
After listening to both arguments, the presiding Judge, Justice Chuka Obiozor granted the bail while also requesting for two sureties and directed that Iwu must not communicate with any of the witnesses.
According to the EFCC, Professor Iwu is standing trial for aiding the concealment of the sum of N2.1bn between December 2014 and March 2015.
The money, the agency said, is part of the N23.29b slush funds allegedly shared by former Petroleum Minister, Diezani Allison-Madueke, to influence the outcome of the 2015 presidential elections.
Iwu has since pleaded not guilty to the charges.
Leave a Reply