A Federal High Court in Lagos has directed the Economic and Financial Crimes Commission (EFCC) to detain the former chairman of the Independent National Electoral Commission (INEC), Prof. Maurice Iwu.
Iwu was arraigned on Thursday on a four-count charge of concealment, fraud and money laundering of N1.2 billion.The former INEC chair denied the charges.
Justice Chuka Obiozor ruled that Iwu be remanded in EFCC custody till Friday when his application for bail will be heard.
EFCC alleged that Professor Iwu aided the concealment of the sum of N1, 203,000,000 between December 2014 and March 2015.
The sum was said to be in the bank account of Bioresources Institute of Nigeria Limited and domiciled in the United Bank for Africa, UBA Plc.
Iwu is said to have been involved in the N23.29 billion poll bribery scandal allegedly shared by former petroleum minister, Diezani Allison-Madueke, to influence the outcome of the 2015 presidential elections.