The Economic and Financial Crimes Commission, (EFCC), is set to arraign former Chairman of the Independent National Electoral Commission, (INEC), Prof. Maurice Iwu for alleged money laundering. .
The acting spokesperson for the anti-graft agency, Tony Orilade, confirmed the planned arraignment at a federal High Court in Lagos on a four-count charge bordering on embezzlement and money laundering.
EFCC sources who elected anonymity told Huhuonline.com that, between December 2014 and March 2015, Iwu is alleged to have aided the concealment of the sum of N1,203,000,000 (One Billion, Two Hundred and Three Million Naira).
According to the source, the said sum was in the bank account of Bioresources Institute of Nigeria Ltd domiciled in the United Bank for Africa, (UBA) Plc.
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