EFCC TO KEEP MAURICE IWU, FORMER INEC BOSS, IN CUSTODY OVER N1.2BN FRAUD

Prof. Maurice Iwu,former INEC boss.

Acting on the order of a Federal High Court sitting in Lagos that former INEC Chairman, Prof. Maurice Iwu be remanded in custody, the EFCC, has taken him into him in till Friday when his application for bail would be heard.

The anti-corruption agency had arraigned the former INEC boss on a four-count charge. Justice Chuka Obiozor had pronounced that he be remanded in EFCC’s custody in a case relating to the concealment, fraud and money laundering of N1.2billion.

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The alleged fraud is reported to have been perpetrated between December 2014 and March 2015.

The sum, according to the evidence, was allegedly logged into a United Bank for Africa, UBA Plc account belonging to Bioresources Institute of Nigeria Limited, as part of the N23.29b slush fund linked to a former Petroleum Minister, Diezani Allison-Madueke, to influence the outcome of the 2015 presidential elections.

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