EFCC Drags Maurice Iwu To Court Over N1.2 Billion Fraud

The Economic and Financial Crimes Commission, (EFCC), is set to arraign a former Chairman of the Independent National Electoral Commission, (INEC), Prof. Maurice Iwu for alleged money laundering, the Guardian learnt.

It was gathered that Iwu will be arraigned at a federal High Court, sitting in Lagos on a four-count charge bordering on money laundering.

A top official in the commission who do not want his name on print disclosed that, 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).

According to the source, the said sum was in the bank account of Bioresources Institute of Nigeria Limited domiciled in the United Bank for Africa, (UBA) Plc.

When contacted, EFCC acting spokesperson, Tony Orilade, confirmed the planned arraignment.