The Economic and Financial Crimes
Commission says it is set to arraign former Chairman of the Independent
National Electoral Commission, INEC, Prof. Maurice Iwu, over alleged N1.2bn
fraud and money laundering.
The commission said Iwu would be
arraigned at the Federal High Court in Lagos on four counts bordering on money
laundering.
Acting spokesperson, EFCC, Tony
Orilade, confirmed the planned arraignment on Wednesday.
He did not, however, disclose
when the former INEC chairman would appear in court, PUNCH reports.
The commission alleged that
between December 2014 and March 2015, Iwu hid N1.2b in the bank account of
Bioresources Institute of Nigeria Ltd. domiciled in the United Bank for Africa
Plc.
The money was 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.
Iwu was fingered as one of the
beneficiaries of the fund, including some INEC officials who are facing trial.
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