Alleged N322m Fraud: Senator Nwaoboshi Gets Bail on Self-Recognisance

Ladipo Sanusi/

A Federal High Court, today granted bail to Senator Peter Nwaoboshi, who is standing trial for alleged N322 million fraud, on self-recognisance.

Nwaoboshi represents Delta North Senatorial District in the current senate.

He was however ordered to provide two sureties, who must furnish the court with N50 million bond each.

Nwaoboshi was also required to deposit his international passport with the court and was ordered not to travel out of the court’s jurisdiction without notice.

Justice Mohammed Idris gave the senator 72 hours to meet the bail conditions.

He adjourned trial till June 13 and 20.

Nwaoboshi’s was arraigned alongside two companies, Golden Touch Construction Projects Limited and Summing Electricals Limited, on two counts of conspiracy and money laundering.

In the charge, the EFCC alleged that the senator committed the offence between May and June 2014.

According to the EFCC, Nwaoboshi and his companies allegedly conspired and acquired a property described as Guinea House, Marine Road, Apapa-Lagos for the sum of N806 million.

EFCC further alleged that the defendants “reasonably ought to have known that the sum of N322 million out of the purchase price transferred to the vendors by order of Suiming Electricals Limited formed part of the proceed of an unlawful act.”

The EFCC also alleged that the senator’s company, Suiming Electricals Limited, had on or about May 14, 2014, aided him and Golden Touch Construction Project Limited to commit the offence of money laundering.

The offences according to the prosecution led by Salisu Abubakar, are contrary to sections 15(2)(d) and 18 (a) the Money Laundering (Prohibition) Act, 2011, (as amended) and punishable under section punishable under section 15(3) and 15(2)(d) of the same Act.

They all pleaded not guilty to the charges.

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