A former Chairman of the Independent National Electoral Commission (INEC), Prof. Maurice Iwu, has left the Ikoyi Prison in Lagos after meeting his N1 billion bail condition.
Iwu left the prison on Friday after one week, his lawyer, Ahmed Raji, has confirmed.
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A Federal High Court in Lagos had on August 9 granted Iwu bail of N1 billion with two sureties in like sum.
Justice Chuka Obiozor ruled that one of the sureties must own a landed property in Lagos while the other must be a professor or a civil servant not below Grade Level 16.
The judge said both sureties must show the court their bank statements with a minimum balance of N1 billion. The sureties were also to submit their recent passport photographs.
The former INEC chair was arraigned on August 8 on a four-count charge of concealment, fraud and money laundering of N1.2 billion which he denied.
The Economic and Financial Crimes Commission (EFCC) alleged that Iwu aided the concealment of the sum of N1, 203,000,000 between December 2014 and March 2015.
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The sum was said to be in the bank account of Bioresources Institute of Nigeria Limited and domiciled in the United Bank for Africa, UBA Plc.
Iwu is said to have been involved in the N23.29 billion poll bribery scandal allegedly shared by former petroleum minister, Diezani Alison-Madueke, to influence the outcome of the 2015 presidential elections.
