N1.2bn Fraud: EFCC Reveals Bank Account Linked to Maurice Iwu

The Economic and Financial Crimes Commission, EFCC, today, October 24, 2019, re-arraigned a former Chairman of the Independent National Electoral Commission, INEC, Professor Maurice Iwu, before Justice I. Nicholas Oweibo of the Federal High Court sitting in Ikoyi, Lagos 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).

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 United Bank for Africa( UBA) Plc.