Court remands Iwu, former INEC chair over N1.2bn fraud

Chidi Samuel|

A federal high court in Lagos, has remanded Maurice Iwu, former chairman of the Independent National Electoral Commission (INEC), in custody over allegations of fraud.

Prior to the remand order, the EFCC had arraigned the former INEC Chairman before Justice Chuka Obiozor on a four-count charge of concealment, fraud and money laundering of N1.2billion between December 2014 and March 2015.

The sum was said to be in the bank account of Bioresources Institute of Nigeria Limited and domiciled in the United Bank for Africa, UBA Plc.

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

Chuka Obiozor, the presiding judge, who remanded Iwu in the custody of the anti-graft agency on Thursday, adjourned the matter till Friday to rule on a bail application filed by the former INEC chair.

Professor Iwu pleaded not guilty to all the charges.