on Wednesday Alleged N1.2bn scam: EFCC to arraign former INEC chairman

The Economic and Financial Crimes Commission (EFCC) is set to arraign a former Chairman of the Independent National Electoral Commission (INEC) Prof. Maurice Iwu.

EFCC’s acting spokesperson, Mr Tony Orilade, confirmed the planned arraignment in a statement in Abuja on Thursday, NAN reports

He, however, did not disclose when the former INEC chairman would appear in court.

“Iwu would be arraigned at a Federal High Court sitting in Lagos on a four-count charge bordering on money laundering,” Orilade said.

Iwu is alleged to have between December 2014 and March 2015, aided the concealment of the sum of N1.2billion.

The said sum was in the bank account of Bioresources Institute of Nigeria Limited domiciled in the United Bank for Africa, (UBA) PLC.

Iwu is a Nigerian Professor of Pharmacognosy who was appointed Chairman of the INEC in June 2005, and was removed from office in April 2010.