The name Prof. Maurice Iwu, is synonymous to alleged rigging of election and electoral malpractice, when he held sway as the Chairman of Independent National Electoral Commisson INEC during the Olusegun Obasanjo regime.
Recently, the Economic and Financial Crimes Commission EFCC made it known that it’s set to arraign former Chairman of INEC, over alleged N1.2bn fraud and money laundering.
The commission divulged that; Iwu would be arraigned at the Federal High Court in Lagos on four counts charge bordering on money laundering. EFCC Acting spokesperson, Mr Tony Orilade, confirmed the planned arraignment on Wednesday.
The commission from its investigations alleged that between December 2014 and March 2015, Iwu hid N1.2b in the bank account of Bioresources Institute of Nigeria Ltd. domiciled in the United Bank for Africa Plc. The money was believed to be part of the N23.29b slush fund allegedly shared by former petroleum minister, Diezani Allison-Madueke, to influence the outcome of the 2015 presidential elections.
Iwu was fingered as one of the beneficiaries of the fund, including some INEC officials who are currently facing trial.
