- Professor Maurice Iwu's bail application will be heard by a Federal High Court sitting in Lagos on Friday, August 9
- Professor Iwu, who is a former chairman of the Independent National Electoral Commission, was arraigned on Thursday, August 8
- The former INEC boss was arraigned by the Economic and Financial Crimes Commission for allegedly laundering N1.2 billion
The bail application filed by a former chairman of the Independent National Electoral Commission (INEC), Professor Maurice Iwu, will be heard by a Federal High Court sitting in Lagos on Friday, August 9.
Professor Iwu was on Thursday, August 8, arraigned by the Economic and Financial Crimes Commission (EFCC) for allegedly laundering N1.2 billion, The Nation reports.
Legit.ng gathers that after pleading not guilty to a four-count charge before Justice Chuka Obiozor, the former INEC boss was remanded in EFCC custody.
According to the prosecution, between December 2014 and March 27, 2015, Iwu aided the concealment of N1, 203,000,000.00 in an account belonging to Bioresources Institute of Nigeria (BION) Limited.
The EFCC said that Iwu ought to have known that the money was part of proceeds of fraud
Professor Iwu's lawyer, Ahmed Raji (SAN), prayed that Iwu should be released to him, adding that his client's age and pedigree should be considered.
Legit.ng previously reported that a Federal High Court sitting in Lagos ordered that Professor Maurice Iwu be remanded in the custody of the Economic and Financial Crimes Commission (EFCC).
Iwu was to remain in EFCC's custody till Friday, August 9, till when his application for bail would be heard, although he pleaded not guilty to all the charges made against him.
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