Former chairman of Independent National Electoral commission INEC professor mauris Iwu was on Friday 16th of August, 2019 released from Ikoyi Prison where he was remanded pending the fulfilment of N1billion bail conditions.
Justice Chuka Obiozor had on the 9th of August admitted Iwu to bail in the sum of N1 billion and two surerties in like sum.
The judge said that the first surety shall be resident in Lagos State and shall transmit his land use as evidence of ownership of property in Lagos State and furnish the court with evidence of payment of tax from three years tax . As proof of address, the surty shall furnish the court with his statement of account with any bank in Nigeria with passport photograph. The bank shall depose to the photograph as true identity of the account holder.
“The defendant and sureties shall provide two of their recent passports for court record. The defendant shall cease all manner of communication either directly or by proxy with any of the witnesses the prosecution might call in this matter.
“The second surety must be a civil servant in the state within the grade of level 16 or a professor in any of the universities in Nigeria. The second surety shall provide proof of tax for three years prior to today. Must be resident in Lagos and as proof of address, he shall provide statement of account to which a passport photograph will be attached which the bank shall depose as the true identity of the account holder.
“The defendant shall keep the original copy of his international passport with this court and shall not travel outside the country without the approval of this court. Deputy registrar of the Lagos division shall verify all documents submitted by the defendant and sureties and pending the perfection of bail, the defendant shall be remanded in prison custody at Ikoyi prison.”
However, iwu was able to perfect the stringent bail conditions on Friday 16th of August a week after the bail was granted.
Iwu’s lawyer Mr Ahamed Raji SAN confirm that his client was released from prison custody on Friday after all the bail conditions were met.
Iwu is facing the three counts charge bordering on money lundering and conspiracy into the tune of N1.2 billion pressed against him by the economic and financial crime commission EFCC
EFCC alleged Iwu to have between December 2014 and March 2015, aided the concealment of the sum of N1, 203,000,000 (One Billion, Two Hundred and Three Million Naira)
The said sum was in the bank account of Bio-resources Institute of Nigeria Limited domiciled in the United Bank for Africa, UBA Plc.
EFCC said that the cash in question was about the election bribery scandal during the 2015 general election.
Iwu pleaded not guilty to the charges.