Justice Mohammed Idris of the Federal High Court sitting in Ikoyi, Lagos, on Friday, April 27, 2018, granted Sen. Peter Nwaoboshi, who represents Delta North in the National Assembly, bail on self-recognition.
Nwaoboshi, who was arraigned on April 25, 2018, is being prosecuted by the Economic and Financial Crimes, EFCC, for an alleged criminal offence bordering on money laundering and fraud to the tune of N805 million.
He is charged alongside two companies namely : Golden Touch Construction Project Limited and Suiming Electrical Limited.
The defendant pleaded not guilty to the charge.
At the last sitting, the judge had deferred ruling on the bail application filed by the counsel to the defendant to today (April 27, 2018).
In his ruling today, Justice Idris granted the defendant bail on self-recognizance as a Senator of the Federal Republic of Nigeria.
The judge further ordered the defendant not to travel outside the country without obtaining permission from the court.
The defendant was also ordered to provide two sureties with N50m bond each, within the next 72 hours.
The sureties, who will be verified by the court ‘s registrar, must deposit their international passports to the court.
The case has been adjourned to June 7, 13, and 20, 2018, for the commencement of trial.
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