Court Orders EFCC To Detain Iwu Over N1.2bn Fraud

The Federal High Court in Ikoyi, Lagos, yesterday, ordered the Economic and Financial Crimes Commission (EFCC), to detain former Chairman of the Independent National Electoral Commission (INEC), Prof. Maurice Iwu till today for hearing of his bail application.
Iwu was arraigned before a Federal High Court in Ikoyi for allegedly laundering of N1.2billion.
Iwu, who has been interrogated by the EFCC, was alleged to have been involved in the N23.29billion poll bribery scandal which characterised the 2015 poll.
Iwu was alleged to have between December, 2014 and March, 2015, aided the concealment of the sum of N1. 203million.
The said sum was in the bank account of Bio-resources Institute of Nigeria Limited domiciled in the United Bank for Africa, UBA Plc.
The cash in question was about the election bribery scandal during the 2015 general election.
Iwu pleaded not guilty to the charges.
Hamed Raji, SAN appeared for him, while EFCC counsel, Mr Rotimi Oyedepo is prosecuting the case.
The Presiding Judge, Prof Chuka Obiozor adjourned till today for the hearing of his bail application and ordered his detention in EFCC’s custody.