Former INEC Chairman Iwu re-arraigned by EFCC.

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Former INEC Chairman Iwu re-arraigned by EFCC for N1.2bn  money laundering.

EFCC re-arraigned the presumed money laundering of N1.2 billion, on Thursday by the former Chairman of the National Independent Electoral Commission (INCE), Professor Iwu Maurice.

Iwu was made to reappear before Justice I. Nicholas Oweibo of the Federal High Court sitting in Ikoyi, Lagos.

Iwu was first arraigned on 8 August before Justice Chuka Obiozor, a judge on vacation, but the case was transferred back to Justice Oweibo for trial.

The former INEC boss was alleged to have between December 2014 and March 2015, aided the concealment of the sum of N1, 203, 00,000.00 in the account of Bio-resources Institute of Nigeria (number 1018603119) domiciled in the United Bank for Africa( UBA) Plc.

This development was disclosed through a statement made by the anti-graft spokesman, Wilson Uwujaren in Abuja.

Former INEC Chairman Iwu re-arraigned by EFCC.

Former INEC Chairman Iwu re-arraigned by EFCC for N1.2bn  money laundering.

Count 2 of the charge reads: “That you, Professor Maurice Mmaduakolam Iwu, between December 2014 and March 27, 2015, in Nigeria, within the jurisdiction of this honourable court, procured Bio-resources Institute of Nigeria(BION) Limited to retain the aggregate sum of N1, 203,00,000.00( One Billion, Two Hundred and Three Million Naira) in Bio-resources Institute of Nigeria, (BION) Limited’s Account No. 1018603119 domiciled in the United Bank for Africa Plc, which sum you reasonably ought to have known forms part of proceeds of unlawful act, to wit: fraud and you thereby committed an offence contrary to Sections 18 (c), 15(2) (c) of the Money Laundering Prohibition Act , 2011, as amended, and punishable under Section (5) (3) of the same Act.”

Nevertheless, Iwu insists that he has not been guilty

The Prosecutor then demanded a trial date from Bilkisu Buhari.

But the defense counsel, A.A. Usman, told the court that after his initial arrest the defendant had obtained the bail granted to him by J. Obiozor.

He, therefore, urged the court to allow the defendant to continue with the bail terms granted by Justice Obiozor.

Usman also told the Court that he had lodged a challenge to the court’s jurisdiction.

Judge Oweibo adjourned the case to hear the appeal by 25 November.

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