The Federal High Court Ikoyi has granted Maurice Iwu bail in the sum of N1 billion with two sureties in like sum.
Iwu was arraigned before the court on Thursday on charges bordering on fraud to the tune of N1.2bn.
He was arraigned by the Economic and Financial Crimes Commission, EFCC.
The former INEC boss has however pleaded not guilty to all charges.
Giving the ruling, Obiozor held that the former INEC chairman must not communicate with any of the witnesses in the case.
The crime was reportedly committed between December 2014 and March 2015.