Admin l Friday, April 27, 2018
IKOYI, Lagos, Nigeria – A Federal High Court sitting in Ikoyi, Lagos today granted bail on self-recognizance to the senator representing Delta North in the National Assembly, Peter Nwaoboshi, who has been charged with N322 million fraud. He is however required to provide two sureties in 72 hours who will sign bail bond of N50 million each.
Justice Mohammed Idris in addition ordered the lawmaker to deposit his international passport in the custody of the court pending the conclusion of the case and will not travel out of the country without the court’s permission until the end of the case. Justice Idris adjourned till June 13 and 20, 2018 for commencement of trial.
The Economic and Financial Crimes Commission had on Wednesday arraigned him alongside two firms on two counts bordering on conspiracy and money laundering. The firms, listed as second and third defendants respectively, are Golden Touch Construction Project Limited and Suiming Electricals Limited.
The EFCC, in the charges, claimed that Nwaoboshi and Golden Touch Construction Project Limited purchased a property known as Guinea House, Marine Road, Apapa, Lagos for N805m between May and June 2014. The anti-graft agency claimed that N322m out of the N805m, which Nwaoboshi and the firm paid for the property, was part of proceeds of “an unlawful act, to wit: fraud.”
The EFCC alleged that the N322m was transferred to the vendor of the property on the order of Suiming Electricals Limited. Suiming Electricals Limited was accused of aiding Nwaoboshi and Golden Touch Construction Project Limited to commit money laundering on or about May 14, 2014.
The prosecution said the defendants acted contrary to sections 18(a) and15(2)(d) of the Money Laundering (Prohibition) Act 2011 and are liable to punishment under Section 15(3) of the same Act.
