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BREAKING: Ex-INEC Chair, Iwu arrives court over alleged money laundering

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The Economic and Financial Crimes Commission (EFCC) on Thursday processed a former president of the Independent National Electoral Commission (INEC), Prof. Maurice Iwu, before the Federal Superior Court in Lagos.

GISTOK had informed the arrival of Iwu to the Federal Superior Court in Lagos for his appearance on a charge of four charges bordering on money laundering.

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EFCC accused Iwu of being involved in the bribery scandal by a vote of N23.29 billion that characterized the previous general elections and was tried for allegedly laundering N1.2billion.

However, the former president of INEC pleaded not guilty to the charge of four charges. Judge Chuka Obiozor ruled that he would be held in EFCC custody until Friday when his bail request is heard.

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The charges said: “That you, Professor Maurice Mmaduakolam Iwu, between December 2014 and March 27, 2015 in Nigeria, within the jurisdiction of this Honorable Court, helped to hide the total sum of N1,203,000,000.00 in the limited account of the Bioresources Institute of Nigeria (BION) No. 1018603119 domiciled in United Bank For Africa Plc, which adds that it should have reasonably known is part of the proceeds of an illegal act namely: fraud and therefore committed a crime contrary to sections 18 (a), 15 (2) (a) of the Money Laundering Prohibition Act, 2011, as amended and punishable under Article 15 (3) of the same Law. ”

GISTOK recalls that Iwu, a Nigerian professor of pharmacognosy, was appointed the president of INEC on June 2005 and was replaced in April 2010.