Justice Chuka Obiozor of the Federal High Court, Lagos
yesterday granted the former chairman of the Independent National Electoral
Commission (INEC), Prof. Maurice Iwu, bail in the sum of N1 billion
The Economic and Financial Crimes Commission (EFCC) had, on August 8, arraigned Iwu on a four-count charge bordering on money laundering.
He was alleged to have aided the concealment of N1.203 billion between December 2014 and March 2015
The money was lodged in the bank account of Bioresources Institute of Nigeria Limited.
The money was believed to have been part of the N23.29b slush fund allegedly shared by former petroleum minister, Diezani Alison-Madueke, to influence the outcome of the 2015 presidential elections.
The former INEC chairman and a lawyer, Mr. Victor Nwachukwuani, were alleged to have retained the sum of N407 million of the said laundered money through the firm’s account.
The professor had denied the allegations, and the matter was adjourned till yesterday (Friday) for hearing of his bail application.
At the resumed hearing of the motion for bail, Iwu’s lawyer, Mr. Ahmed Raji, urged the court to grant bail to his client either on self-recognition or in the most liberal terms.
Raji pleaded with the court to consider his client’s age and health status, as well as the service he rendered serving the country as a former INEC chairman.
But the EFCC’s counsel, Mr. Rotimi Oyedepo, urged the court to refuse the application, adding that the defendant was ‘flight risk’ and there was possibility of interfering with the commission’s witnesses most of whom he said were INEC officials.
Oyedepo also said the defendant had not furnished the court with the state of his health.
However, he said in the unlikely event that the court granted the application, it should be with the conditions that would ensure the defendant attends court sessions till the determination of the charge against him.
“In the unlikely event that the bail is granted, I urge Your Lordship to impose such conditions that will compel him to come to court and conditions that will make sure our witnesses are not tampered with and no contact between them, both formally and informally especially with witnesses that have worked with him at one point or the other.
“I also urge the court to impose conditions that will ensure that if he absconds, we would be able to lay hands on something that is equivalent to the N1.2 billion under dispute,” he said.
Ruling on the application, Justice Obiozor held that granting bail was at the discretion of the court which must be done judicial and judiciously.
Consequently, he admitted the defendant to bail in the sum of N1 billion with two sureties in like sum.
However, he said: “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 prior to today. As proof of address, the defendant 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.”
