The Supreme Court had, in a split decision of four-to-one, set aside the conviction and sentencing to seven years’ imprisonment of Senator Peter Nwaoboshi for fraud and money laundering.
In a lead judgment by Justice Emmanuel Agim, the apex court held that the EFCC unjustly and maliciously prosecuted Nwaobishi and the two companies for committing no offences known to law and subjected them to a needless criminal trial concerning a civil transaction.
The court set aside the July 1, 2022 judgment of the Lagos Division of the Court of Appeal, which had reversed their discharge and acquittal by the Lagos Division of the Federal High Court.
The apex court, therefore, ordered his immediate release from the Ikoyi Prison in Lagos, where he is held. The court also freed the two companies – Golden Touch Construction Project Ltd and Suiming Electrical Ltd – tried with him on a two-count charge brought against them by EFCC.
The EFCC had accused Mr Nwaoboshi and his companies of illegally acquiring Guinea House on Marine Road, in Apapa, Lagos, for N805 million, the property said to belong to the Delta government.
The anti-graft agency had claimed that part of the money paid for the property was transferred by Suiming Electrical Ltd on behalf of Mr Nwaoboshi and Golden Touch Construction Project Ltd, alleging the funds were proceeds of illicit activities.
(NAN)
