The officials are alleged to have collected N3bn said to have been disbursed by a former Minister of Petroleum Resources, Diezani Alison-Madueke, ahead of the 2015 general elections.
On Tuesday, national commissioner and a member of the Information and Voter Education Committee at INEC, Mohammed Haruna, briefed journalists after a meeting of the leadership of the Commission in Abuja.
Haruna said the Commission also decided to place the 205 affected officials on half salaries in accordance with the terms and conditions of service of the Commission.
He also stated that the Commission had referred the cases of a former national commissioner and five former Resident Electoral Commissioners (one late) to the Presidency and the EFCC for further action and investigation.
According to him, the decision to refer the national commissioner and the RECs to the Presidency and the EFCC was because it was not within the powers of the commission to deal with the cases involving them.