Just in: Maurice Iwu granted N1 billion bail
The former Independent National Election Commission, INEC, Professor Maurice Iwu, has been granted bail in the sum of N1 billion.
He was granted bail today by the Federal High Court in Ikoyi, Lagos.
Iwu is indicted on a four-count charge of concealment, fraud, and money laundering of N1.2billion.
It was alleged that Professor Iwu kept N1.2 billion in a bank account of the Bioresources Institute of Nigeria Limited.
The money is believed to be part of the N23.29billion former petroleum minister, Alison-make allegedly shared during former president Jonathan regime
