The Former Chairman of the Independent National Electoral Commission, INEC, Prof. Maurice Iwu, has been released, after spending a week at Ikoyi Prison in Lagos.
The former INEC boss left the prison on Friday, after he met his bail conditions which includes N1bn bail, with two sureties as was ruled by the court.
Iwu, who is standing trial for N1.23bn fraud charges, was arraigned before Justice Chuka Obiozor at the Federal High Court in Lagos on August 8 on a four counts charges.
Justice Obiozor after the hearing, granted him to bail to the tune of N1bn with two sureties in like sum following his plead of “not guilty” to the charges levelled against him.
According to the judge, one of the sureties must be a civil servant not below Grade Level 16 or a professor in any Nigerian university, while the other must be a landed property in Lagos state.
The judge added that, both sureties must also show evidence of three years’ tax clearance and reveal their statements of accounts to the court.
Iwu was further ordered to submit his passport to the court’s custody, and is not expected to travel anywhere without the courts’s approval.
However, Iwu’s lawyer, Mr Ahmed Raji (SAN), confirmed that his client had met the bail conditions and had left the prison since Friday.