Updated: Ex-INEC Chair, Iwu, Remanded In Prison Over N1.2Bn Scam

Economic and Financial Crimes Commission (EFCC) has arraigned Prof Maurice Iwu before Justice Chuka Obiozor often the Federal High Court, Lagos on a four-count charge. The judge ordered he’s kept in custody. The charge borders on concealment, fraud and money laundering to the tune of N1.2billion. The remand order was handed down by Justice Obiozor after his arraignment.

Prof. Iwu was appointed Chairman of the INEC in June 2005. Specifically, he succeeded Abel Guobadia as Chairman of INEC. However, he was removed from office in April 2010.

EFCC alleged that Professor Iwu aided the concealment of the sum of N1, 203,000,000 between December 2014 and March 2015. The sum was said to be in the bank account of Bioresources Institute of Nigeria Limited. Further, the Commission disclosed that the sum was domiciled in the United Bank for Africa, UBA.

We had reported that EFCC interrogated the professor of pharmacology who was also a consultant to former Vice President Atiku Abubakar during the last presidential election. Iwu is said to have been involved in the N23.29billion poll bribery scandal which characterized the 2015 poll.

“Iwu is alleged to have between December 2014 and March 2015, aided the concealment of the sum of N1, 203,000,000 (One Billion, Two Hundred and Three Million Naira).

“Iwu has been implicated in the N23.29billion poll bribery scam perpetrated by a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke. He was accused of allegedly using an NGO, West African Network of Electoral Observers, in the facilitation of bribery to top officials of the electoral commission. We have been on this case since 2016,” a source told us.

It will be recalled that many of the indicted INEC staff and politicians have owned up and refunded huge sums of money to the EFCC.

More than N3.4billion in cash has been recovered apart from choice assets seized by the anti-graft agency.

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