TheCable

The Economic and Financial Crimes Commission (EFCC) has re-arraigned Maurice Iwu, a former chairman of the Independent National Electoral Commission (INEC) over allegation of N1.2 billion fraud.

Iwu pleaded not guilty to a four-count charge before Nicholas Oweibo, judge of the federal high court in Lagos, on Thursday.

The anti-graft agency had earlier arraigned the former INEC chairman before Chuka Obiozor, also a judge of the same court in August before the case was transferred to Oweibo.

The EFCC accused Iwu of committing offences in the build-up to the 2015 general election.

He was accused of aiding the concealment of N1.23bn in the account of Bioresources Institute of Nigeria Limited with number 1018603119, domiciled in the United Bank for Africa, between December 2014 and March 27, 2015.

The EFCC said Iwu ought to have reasonably known that the N1.23bn formed part of the proceeds of an unlawful act of fraud.

Rotimi Oyedepo, counsel to the EFCC, said the offence contravened the provisions of sections 15 (2) (a) and 18 (a) of the Money Laundering ((Prohibition) Act 2011

The judge allowed the defendant to continue on the N1 billion bail earlier granted him by Obiozor.

The case was adjourned till November 25 for the commencement of trial.