A former Chairman of the Independent National Electoral Commission, Prof. Maurice Iwu, on Thursday re-appeared before a Federal High Court in Lagos to answer to a N1.2 billion fraud allegation.
Iwu is being prosecuted by the Economic and Financial Crimes Commission on four counts bordering on the offence.
He appeared before Justice Nicholas Oweibo and pleaded not guilty to the charges.
The News Agency of Nigeria reports that the defendant had earlier been arraigned during the court’s vacation before Justice Chuka Obiozor.
He was re-arraigned on Thursday, following a re-assignment of the case from Justice Oweibo.
In the charges, the EFCC alleged that Iwu committed the offence in the build-up to the 2015 general elections.
According to the commission, he committed the offences between December 2014 and March 27, 2015.
It said the defendant aided the concealment of N1.2 billion in the account of one Bioresources Institute of Nigeria Limited.
The EFCC said that Iwu ought to have reasonably known that the money formed part of the proceeds of an unlawful act of fraud.
EFCC prosecutor, Rotimi Oyedepo, said the offence contravened the provisions of sections 15 (2) (a) and 18 (a) of the Money Laundering ((Prohibition) Act 2011.
Justice Oweibo allowed the defendant to continue on the N1 billion bail earlier granted him by Justice Obiozor.
He adjourned the case until November 25 for trial to start.
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