The AIU said it has requested that the four-time Olympics silver medalist be suspended from IAAF council pending investigation into corruption allegations.
Fredericks was in March implicated in a corruption scandal, which forced him to resign from his position as head of the International Olympic Committee (IOC) evaluation commission.
This was after French daily, Le Monde alleged that in 2009, Frendericks received bribes from Papa Massata Diack, the son of disgraced former IAAF president - Lamine Diack.
In its chronicle, the newspaper said Matlock Capital Group, owned by Brazilian tycoon Arthur Cesar de Menezes Soares Filho paid $1.5 million to Pamodzi Consulting owned by Diack.
Diack on his part is said to have transferred $299 300 to Yemi Limited, linked to Fredericks, on October 2, the same day Rio de Janneiro won the rights to host the 2016 Olympics Games.
Diack has been implicated in a corruption scandal by French prosecutors for allegedly extorting money from athletes to cover up doping.
He has since been banned for life from athletics.
As the head of IOC’s evaluation commission, Fredericks was due to lead an inspection team to Los Angeles and Paris – two cities vying for the hosting right to the 2024 Olympics Games.
The former Namibian sprinter has however strongly denied reports that he was paid to manipulate the vote for the host city of the Olympic Games last year.
He had said the money was paid for service rendered that has nothing to with the Olympics.
However, AIU said it has launched an investigation into the claims, which will be led by Sir Anthony Hooper, a former judge of the English Court of Appeal.
Frendericks is highly regarded in his motherland, after winning silver medals in 100 and 200 meters at the 1992 Summer Olympics in Barcelona and in Atlanta in 1996.