Ex-INEC chief Iwu’s N1.23b fraud trial stalled

Robert Egbe

 

The scheduled N1.23 billion alleged fraud trial of a former Chairman of the Independent National Electoral Commission (INEC), Prof Maurice Iwu, did not hold yesterday at the Federal High Court in Lagos, due the judge’s absence.

Justice Nicholas Oweibo was said to be away on an official engagement.

Iwu is facing three counts of alleged fraud and money laundering.

He was first arraigned by the Economic and Financial Crimes Commission (EFCC) on August 8 before Justice Chuka Obiozor, who granted him bail for N1 billion.

Following the transfer of the case to Justice Oweibo, the defendant was re-arraigned by the EFCC on October 24.
The ex-INEC boss pleaded not guilty.

Read Also: Iwu challenges court N1.23b ‘fraud’ suit

Justice Oweibo adjourned till yesterday for a trial to commence.

In the absence of the judge, parties were informed that the case had been adjourned till February 27, 2020.
The EFCC alleged that between December 2014 and March 27, 2015, Iwu “aided the concealment of N1.23 billion in the account of Bioresources Institute of Nigeria Limited with number 1018603119, domiciled in the United Bank for Africa (UBA)”.

The nati-graft agency said he “ought to have reasonably known that the N1.23 billion formed part of proceeds of an unlawful act, to wit: fraud”.

The prosecuting counsel for the EFCC, Mr Rotimi Oyedepo, told the court that the ex-INEC chairman acted contrary to sections 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.
Iwu pleaded not guilty.