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Breaking: Ex-INEC chairman, Maurice Iwu remanded in EFCC’s custody over N1.2bn fraud

Maurice Iwu

The  Federal High Court sitting in Lagos has, on Thursday, ordered the Economic and Financial Crimes Commission, EFCC, to detain the former chairman of the Independent National Electoral Commission, Prof. Maurice Iwu till Friday to hear his bail application.

Maurice Iwu
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Professor Iwu is being tried for allegedly hiding N1.2bn in the bank account of a company, Bioresources Institute of Nigeria Limited, domiciled UBA and being money believed to be part of the N23.29bn slush fund shared by the former Minister of petroleum, Diezani Allison-Madueke.

Details soon…

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