Naija News learnt that the former INEC chairman is being arraigned on a four-count charge bordering on money laundering.
The planned arraignment was confirmed in a statement by the EFCC’s spokesperson, Mr Tony Orilade, in Abuja today.
However, he did not disclose when the former INEC chairman would appear in court.
“Iwu would be arraigned at a Federal High Court sitting in Lagos on a four-count charge bordering on money laundering,” Orilade said.
Naija News learnt that Iwu between December 2014 and March 2015, allegedly aided the concealment of the sum of N1.2billion.
The said sum was in the bank account of Bioresources Institute of Nigeria Limited domiciled in the United Bank for Africa, (UBA) PLC.