Former Chairman of the Independent National Electoral Commission (INEC) Prof. Maurice Iwu was re-arraigned on Thursday before a Federal High Court in Lagos,over an alleged N1.2 billion fraud.
Prof. Iwu appeared before Justice Nicholas Oweibo and pleaded not guilty to the four counts charges bordering on fraud-related offence in a suit filled by the Economic and Financial Crimes Commission (EFCC).
According to the News Agency of Nigeria (NAN), Prof Iwu had earlier been arraigned during the court’s vacation before Justice Chuka Obiozor.
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He was re-arraigned on Thursday, following a re-assignment of the case from Justice Oweibo.
In the charges, the EFCC alleged that Iwu committed the offence in the build-up to the 2015 general elections. According to the commission, he committed the offences between December 2014 and March 27, 2015.
The EFCC said the defendant aided the concealment of N1.2 billion in the account of one Bioresources Institute of Nigeria Ltd, adding that Iwu ought to have reasonably known that the money formed part of the proceeds of an unlawful act of fraud.
EFCC prosecutor Mr Rotimi Oyedepo, said that the offence contravened the provisions of sections 15 (2) (a) and 18 (a) of the Money Laundering ((Prohibition) Act 2011
Justice Oweibo allowed the defendant to continue on the N1billion bail earlier granted him by Justice Obiozor.
He adjourned the case until Nov. 25 for trial to start.
Samson Oyedeyi
