A federal court in Lagos has remanded Peter Nwaoboshi, a Peoples Democratic Party senator representing Delta North, in Ikoyi prison.
Mohammed Idris, the judge, ruled that Mr Nwaoboshi is remanded till Friday pending the hearing of the senator’s bail application.
Mr Nwaoboshi was arraigned by the Economic and Financial Crimes Commission on a two-count charge of money laundering.
Before his arraignment, the senator was kept in EFCC’s custody in Abuja.
The senator whose name appeared on federal government’s looters’ list was arrested by the anti-graft agency recently.
According to the charge sheet, Nwaoboshi is charged alongside two companies, Golden Touch Construction Projects Ltd, and Suiming Electricals Ltd on a two-count charge of money laundering.
One of the charges against him alleged that the senator and Golden Touch Construction Project Ltd fraudulently acquired a property known as Guinea House situated at Marine Road, Apapa in Lagos, between May and June 2014, at a cost N805 million.