Professor Maurice Iwu, former president of the Independent National Electoral Commission (INEC), chaired by the Economic and Financial Crimes Commission, has declared charges of fraud and money laundering.
The commission stated that Mr. Iwu would be brought before the Federal High Court in Lagos on four counts of money laundering. Tony Orilade, acting spokesman for the EFCC, confirmed the indictment scheduled for Wednesday.
The Commission alleged that between December 2014 and March 2015, Iwu had hidden N1.2b in the bank account of Bioresources Institute of Nigeria Ltd., domiciled in United Bank for Africa Plc. It was thought that this money was part of the slush fund N23.29b that would have been shared by the former oil minister, Diezani Allison-Madueke, in order to influence the outcome of the 2015 presidential elections.
Iwu has been named as one of the beneficiaries of the fund, including some INEC officials who are on trial.