Alleged Money Laundering: EFCC Re-arraigns Former INEC Chairman, Maurice Iwu

Professor Maurice Iwu
Professor Maurice Iwu

The Economic and Financial Crimes Commission(EFCC) has re-arraigned a former chairman of the Independent National Electoral Commission(INEC), Maurice Iwu over an alleged N1.2bn money laundering offence.

According to a statement by the EFCC on Thursday, Iwu was re-arraigned on Oct. 24th at Federal High Court, Ikoyi, Lagos.

Read Statement Below

The EFCC, today, October 24, re-arraigned a former Chairman of the Independent National Electoral Commission, INEC, Professor Maurice Iwu, before Justice I. Nicholas Oweibo of Federal High Court, Ikoyi, Lagos.

He was re-arraigned on a four-count charge bordering on money laundering to the tune of N1,203, 000,000.00( One Billion, Two Hundred and Three Million Naira).

Read Also: Former INEC Chairman, Prof Maurice Iwu, Remanded Over ₦1.23bn Fraud

Iwu was first arraigned on August 8, 2019 before Justice Chuka Obiozor, a vacation Judge, but the matter was re-assigned to Justice Oweibo for trial.

The former INEC is alleged to have between December 2014 and March 2015, aided the concealment of the sum of N1, 203, 00,000.00(One Billion, Two Hundred and Three Million Naira) in the account of Bio-resources Institute of Nigeria (number 1018603119) domiciled in the UBA Plc.

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