A source close to the polity said Obanikoro was released by the EFCC at about 5:00pm on Friday.
The source said, “The EFCC released Senator Obanikoro around 5pm. He is on his way home now.”
Obanikoro was said to have refunded N100m and pledged to return N480m, while the commission also seized his Nigerian and American passports.
The source continued: “EFCC asked Obanikoro to submit his passports. He was only willing to drop his Nigerian passport, but he has finally submitted the American passport.
“He was asked to produce two directors who must also present a three-month salary pay slip.
“He has returned N100million and has pledged to return N480million. The actual balance is meant to be N685million, but he was able to provide receipts for some transactions.
“He paid N85million to someone and that person has been traced.
“He also bought some bulletproof vehicles when he was minister and they will be handed over to the EFCC.
“The cost of the vehicles will be deducted from the amount that should be returned.”Another source said:
“Obanikoro claimed that he used part of his own share to do an anti-Boko Haram campaign in Lagos in 2014.
“However, we found out that he wasn’t telling the whole truth, because some of the money was spent on his governorship campaign when he was contesting against Jimi Agbaje during the PDP primary.”
Obanikoro, who was arrested on October 17, was accused of receiving N4.7bn through the Office of the National Security Adviser in 2014.