The Federal High Court in Ikoyi on Friday granted former Independent National Electoral Commission (INEC) Chairman, Prof. Maurice Iwu, one billion (1,000,000,000)naira bail.
The Economic and Financial Crimes Commission (EFCC) had on Thursday, August 8, 2019, arraigned him before Justice Chuka Obiozor of the Federal High Court sitting in Ikoyi, Lagos, on a four-count charge bordering on money laundering to the tune of N1, 203,000,000 (one billion, two hundred and three million naira).
Iwu, between December 2014 and March 2015, allegedly aided the concealment of the sum of N1, 203, 000,000.00 (one billion, two hundred and three million naira) in Bioresources Institute of Nigeria (BION) Limited’s account number 1018603119, domiciled in the United Bank for Africa( UBA) Plc.
