Iwu, a Nigerian Professor of Pharmacognosy, was INEC chairman between 2005 and 2010.

The planned arraignment was made known by the spokesman of the Economic and Financial Crimes Commission, EFCC, Mr. Tony Orilade, in a statement.

Although he did not state when the arraignment of the former INEC boss will take take place, he disclosed that it will hold at a Federal High Court in Lagos.

He said Iwu would be arraigned on a four-count charge bordering on money laundering.

According to him, Iwu was said to have helped in the concealment of the sum of N1.2 billion between December 2014 and March 2015.

The money was said to be in the bank account of Bioresources Institute of Nigeria Limited domiciled in the United Bank for Africa.

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