The Economic and Financial Crimes Commission (EFCC) has arraigned Senator Peter Nwaboshi at the Federal High Court, Lagos.
Senator Nwaboshi, the lawmaker representing Delta North district at the National Assembly, was arraigned by the anti-graft agency on Wednesday on two counts of fraud.
He, however, pleaded not guilty to the charges preferred against him.
Justice Mohammed Idris consequently adjourned the matter till Friday when he would give a ruling on whether or not to admit him to bail.
The EFCC had said on Tuesday that it would arraign the lawmaker over the purchase of a property identified as Guinea House located on Marine Road, Apapa-Lagos.
The commission alleged that the money used to acquire the property by the senator formed part of the proceeds of an unlawful act of fraud.
Senator Nwaboshi is being charged alongside Golden Touch Construction Projects Limited and Suiming Electricals Nigeria Limited.
Count one read, “That you Peter Nwaboshi and Golden Touch Construction Projects Limited between May and June 2014 within the jurisdiction of the court did acquire a property described as Guinea House, Marine Road, Apapa-Lagos for the sum of N805million when you reasonably ought to have known that the sum of N322million out of the purchase price transferred to the vendors by order of Suiming Electricals Limited formed part of the proceeds of an unlawful act of fraud and you thereby committed an offender contrary to Section 15 (2) (d) of the Money Laundering Prohibition (Act) of 2011 (as amended) and punishable under Section 15 (3) of the same Act.”
The second count also read, “Suiming Electrical Limited on or about 14th May 2014 within the jurisdiction of the court, aided Hon Peter Nwaboshi and Golden Touch Construction Projects Ltd to commit money laundering, and you thereby committed an offence contrary to Section 18(a) of the Money Laundering Prohibition (Act) of 2011 (as amended) and punishable under Section 15 (3) read in conjunction with Section 15 (2) (d) of the same Act.”
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