After spending two days in prison, Sen. Peter Nwaoboshi ( PDP-Delta North), on Friday regained freedom with the Federal High Court, Lagos, granting him bail on self-recognizance. Nwaoboshi was on Wednesday arraigned by the Economic and Financial Crimes Commission (EFCC) on an alleged N805 million fraud.
The lawmaker was arraigned alongside two companies — Golden Touch Construction Project Ltd and Summing Electrical Ltd — on a two-count charge of fraud and money laundering before Justice Mohammed Idris.
Although Nwaoboshi had pleaded not guilty to the charges, Justice, however, ordered his remand in Ikoyi Prisons and adjourned ruling on his bail application until Friday after the submissions of both the prosecutor, Mr M. S. Abubakar and the defence counsel, Dr V. J. O Azinge. Read more