N1.2bn alleged fraud: Ex-INEC boss Iwu arrives court


A former chairman of the Independent National Electoral Commission, Prof. Maurice Iwu, has arrived the Federal High Court in Lagos for his arraignment. The Economic and Financial Crimes Commission has said it would arraign Iwu for alleged N1.2bn fraud.

He faces four counts bordering on money laundering, EFCC said. Iwu was alleged to have, between December 2014 and March 2015, concealed N1.2bn in the bank account of Bioresources Institute of Nigeria Limited domiciled in the United Bank for Africa Plc.

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

Iwu was fingered as one of the beneficiaries of the fund, including some INEC officials who are facing trial.


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