Senator Peter Nwaoboshi has eventually broken his silence over the N2.7billion fraud allegation against him by the Economic and Financial Crimes Commission (EFCC). “The matter is before the court. That issue is before the court and I don’t want to comment on it. I am a lawyer; I cannot comment on it.”



Insiders at the EFCC revealed that in 2014, the lawmaker, through his company, Bilderberg Enterprises Limited, received a contract of N1.5bn to supply brand new construction equipment to the Delta State Direct Labour Agency and the lawmaker allegedly supplied the state government with used goods and passed them off as new and he allegedly used part of the diverted funds to buy a 12-storey building at 27 Marina Road, Apapa, Lagos for N805million.

Sources disclosed to us that as a member of the board of Nexim Bank in 2014, the senator was granted a loan of N1.2bn under the Local Industrial Growth Scheme. The money was meant for the purchase of equipment and electrical materials but he allegedly diverted part of the funds to acquire properties in Lagos.