Lukman Olabiyi 

The Economic and Financial Crimes Commission (EFCC) yesterday re-arraigned the former chairman of the Independent National Electoral Commission (INEC), Professor Maurice Iwu, before the Federal High Court in Lagos over an alleged fraud of N1.23 billion.

The EFCC re-arraigned Iwu following the re-assignment of his case file to Justice Nicholas Oweibo from Justice Justice Chuka Obiozor, who sat as a vacation judge when he was first arraigned in August.

Iwu was docked before the new judge on a four-count charge of conspiracy and money laundering.

According to the anti-graft agency, Iwu committed the offence in the build-up to the 2015 general election in which President Muhammadu Buhari defeated former President Goodluck Jonathan.

The EFCC also alleged that Iwu aided and concealed the total sum of N1.203 billion, which was said to be proceeds of unlawful act.

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EFCC further claimed that Iwu had in  2015, used his company, Bioresources Institute of Nigeria (BION) Limited, to launder the money.  The EFCC also alleged that Iwu and a lawyer, Victor Chukwuani, retained N407 million, said to be proceeds of unlawful act, in BION’s account domiciled in the United Bank for Africa (UBA).

The offences, according to the EFCC counsel, Rotimi Oyedepo, are contrary to sections 18(a), 15(2) (a) of the Money Laundering Prohibition Act, 2011 as amended and punishable under Section 15 (3) of the same Act.

The former INEC boss, however, pleaded not guilty to all the counts.

He was allowed by Oweibo to continue to enjoy the terms of the bail earlier granted to him by Obiozor.

The judge fixed November 25 for commencement of trial.