The Economics and Financial Crimes Commission (EFCC) would arraign the Senator representing Delta-North, Peter Nwaoboshi, on a two-count charge of conspiracy and money laundering, at the Federal High Court sitting in Ikoyi, Lagos on Wednesday.
The senator would be arraigned before Justice Mohammed Idris, a source in the commission told Saharareporters.
According to the charge sheet obtained by Saharareporters, the senator would be arraigned alongside two firms, GoldenTouch Construction Project Ltd and Suiming Electricals Limited.
This website had earlier reported the arrest of Mr. Nwaoboshi by the anti-graft agency over an alleged fraud of N6 billion.
EFCC sources say the Senator was subsequently quizzed for hours on Monday over an alleged failure to execute contracts worth N4 billion awarded to him.
The Delta state Senator was accused of obtaining N1.2 billion loan from Nigeria Export-Import Bank to buy electrical equipment for his company but instead diverted the loan for personal use.
Mr. Nwaoboshi also allegedly purchased a N805 million, 12-storeys building in Lagos from Delta state government.
He was also accused of failing to make full disclosure of his assets to the Code of Conduct Bureau (CCB).
Count 1 of the charges against the Senator reads, “ AND GOLDENTOUCH CONSTRUCTION PROJECT LTD between May and June 2014 within the jurisdiction of this Hon. Court did acquire a property described as Guinea House, Marine Road, Apapa, Lagos for the sum of N805,000,000.00 (Eight hundred and five million naira only) when you reasonably ought to have known that the N322,000,000.00 (Three hundred and twenty-two million naira only) out of the purchase price transferred to the vendors by order of SUIMING ELECTRICALS LIMITED formed part of the proceed of an unlawful act (to wit: fraud) and you, therefore, committed an offense contrary to section 15(2)(d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same act.
Count 2 states “That you, SUIMING ELECTRICALS LIMITED on or about 14th May 2014, within the jurisdiction of this Hon. Court aided PETER NWAOBOSHI AND GOLDENTOUCH CONSTRUCTION PROJECT LTD to commit laundering and you thereby committed an offense contrary to section 18(a) of the Money Laundering (Prohibition) Act (as amended) and punishable under Section 15(3) in conjunction with Section 15(2)(d) of the same Act.