Incredible: Court Grants Maurice Iwu N1bn Bail …Ex-INEC Boss Lands in Ikoyi Prison

Matilda Omonaiye/

Former Chairman of the Independent National Electoral Commission (INEC), Professor Maurice Iwu, who is facing trial over alleged N1.2billion fraud has been granted N1billion bail at the Federal High Court Ikoyi today.

Professor Iwu was being arraigned on four counts of concealment, fraud and money laundering of about N1.2 billion.

In the charge, the EFCC alleged that Professor Iwu aided the concealment of the alleged sum between December 2014 and March 2015.

The money is suspected to be part of the N23.29billion slush funds allegedly shared by former Petroleum Minister, Diezani Allison-Madueke, to influence the outcome of the 2015 presidential elections.

Professor Iwu, however, pleaded not guilty to the charges, and his lawyer, Ahmad Raji (SAN) asked the court to grant him bail on the grounds of self-recognizance and secondly on liberal terms.

The prosecution lawyer, Rotimi Oyedepo, on the other hand, said there was evidence of the possibility of the defendant intimidating or interfering with the witnesses if he was granted bail, and therefore, urged the court to use its discretion not to grant the bail.

After listening to both arguments, however, Justice Chuka Obiozor granted the bail while also requesting for two sureties and insisting that Mr Iwu must not communicate with any of the witnesses.

He is to be remanded in the Ikoyi prison until he meets the bail conditions.