By Ese Awhotu with agency report
A Lagos Division of the Federal High Court has remanded a former chairman of the Independent National Electoral Commission (INEC) in the custody of the Economic and Financial Crimes Commission (EFCC) over an alleged N1.23 billion fraud.
The ex-INEC boss is to remain in custody pending the hearing of his application for bail.
Iwu was arraigned by the EFCC on four counts before the Federal High Court in Lagos.
He pleaded not guilty to the charges.
According to the commission, the offence was committed between December 2014 and March 2015.
While moving motion for bail, Ahmed Raji counsel to Mr Iwu, informed the court that his client had been on administrative bail prior to arraignment and had not missed an appointment.
Raji said he had filed a motion challenging the territorial jurisdiction of the court but would like to wait till after bail was determined.
In response, the judge said the bail application cannot proceed until the jurisdiction of the court is determined because deciding whether or not to grant bail presupposes that the court has jurisdiction over the matter.
While adjourning till Friday to take his bail application, Justice Chuka Obiozor ordered that Iwu be remanded in the custody of the EFCC.
“I direct the defendant be remanded in EFCC custody till tomorrow when bail will be taken,” he ruled.
The EFCC said Mr Iwu had been under investigation since 2015, for money laundering.