The Federal High Court in Port Harcourt, on Wednesday, granted N100m bail to a member of the House of Representatives, Dr. Chinyere Igwe, who is facing money laundering charges.
Igwe, who represents Port Harcourt Federal Constituency 2 in the National Assembly, was on the eve of the presidential election arrested with $498,100 cash.
The police arraigned him before Justice Stephen Daylop-Pam on money laundering charges.
He pleaded not guilty and subsequently filed an application for bail.
In a ruling on Wednesday, Justice Daylop-Pam granted him N100m bail.
As part of the bail conditions, the judge ordered him to submit his passport to the Nigeria Immigration Service, adding that he must never travel out of the country till the conclusion of his trial.
The judge adjourned till May 4 for commencement of trial.
The federal lawmaker, an ally of the presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has been in the police police custody since his arrest in Port Harcourt on February 24.
Igwe is one of the top Rivers State politicians who fell out of favour with the Governor Nyesom Wike.
Wike, who is a member of the Peoples Democratic Party, had refused to back the party’s presidential candidate, Atiku.