Alleged Fraud: Former INEC Chairman Aided Concealment of N1.23bn – EFCC tells Court<\/p>\n
The Economic and Financial Crimes Commission (EFCC), on Thursday (today) informed Justice Nicholas Oweibo of a Federal High Court sitting in Ikoyi, Lagos State, Nigeria, that the former Chairman of the Independent National Electoral Commission (INEC), Professor Maurice Iwu, allegedly aided the concealment of N1.23bn in the account of Bioresources Institute of Nigeria Limited with number 1018603119, domiciled in the United Bank for Africa (UBA).<\/p>\n
The anti-graft agency made the revelation during the re-arraignment of Professor Maurice Iwu over alleged involvement in fraud to the tune of N1.23bn.<\/p>\n
The Commission re-arraigned Professor Maurice Iwu on a four counts charge that borders on the alleged offence.<\/p>\n
It would be recalled that Professor Maurice Iwu had earlier been arraigned in August before Justice Chuka Obiozor of the same court.<\/p>\n
Professor Maurice Iwu’s re-arraignment came consequent upon the transfer of the case from Justice Chuka Obiozor to Justice Nicholas Oweibo.<\/p>\n
According to the charge slammed against the former INEC Chairman, the EFCC stated that Professor Maurice Iwu allegedly committed the offence in the build-up to the 2015 general elections in which President Muhammadu Buhari defeated then-incumbent President Goodluck Jonathan.<\/p>\n
The anti-graft agency particularly stated that between December 2014 and March 27, 2015, Professor Maurice Iwu aided the concealment of N1.23bn in the account of Bioresources Institute of Nigeria Limited with number 1018603119, domiciled in the United Bank for Africa.<\/p>\n
The Commission insisted that Professor Maurice Iwu ought to have known that the N1.23bn formed part of the proceeds of an unlawful act, to wit: fraud.<\/p>\n
Counsel to the EFCC, Rotimi Oyedepo informed Justice Nicholas Oweibo that Professor Maurice Iwu acted contrary to section 18(a) and 15 (2) (a) of the Money Laundering ((Prohibition) Act 2011 and was liable to be punished under Section 15(3) of the same Act.<\/p>\n
However, Professor Maurice Iwu pleaded not guilty to the charge, prompting Justice Nicholas Oweibo to allow him to continue on the N1bn bail earlier granted him by Justice Obiozor.<\/p>\n
Justice Nicholas Oweibo adjourned until November 25, 2019, for commencement of trial.<\/p>\n","protected":false},"excerpt":{"rendered":"
Alleged Fraud: Former INEC Chairman Aided Concealment of N1.23bn – EFCC tells Court The Economic and Financial Crimes Commission (EFCC), on Thursday (today) informed Justice Nicholas Oweibo of a Federal High Court sitting in Ikoyi, Lagos State, Nigeria, that the former Chairman of the Independent National Electoral Commission (INEC), Professor Maurice Iwu, allegedly aided the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[],"tags":[],"class_list":["post-74160","post","type-post","status-publish","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t