The conviction of Senator Peter Nwaoboshi, who represents Delta North, on charges of fraud and money laundering has been overturned by the Supreme Court, News About Nigeria reports.
Furthermore, the apex court has issued an immediate release order for Senator Nwaoboshi from Ikoyi prisons in Lagos, where he has been incarcerated.
The Supreme Court’s verdict, delivered on Friday, also resulted in the exoneration of the two companies involved in the case, Golden Touch Construction Project Ltd and Suiming Electrical Ltd.
These entities were jointly prosecuted with Senator Nwaoboshi on a two-count charge filed by the Economic and Financial Crimes Commission (EFCC).
In a split decision, with four judges in favor and one dissenting, the Supreme Court invalidated the earlier ruling of the Court of Appeal in Lagos on July 1, 2022.
The Court of Appeal had overturned the Federal High Court’s verdict of discharge and acquittal of the defendants.
Justice Emmanuel Agim, speaking on behalf of the Supreme Court, delivered the leading judgment.
He emphasized that Senator Nwaoboshi and the two companies had been wrongfully and maliciously prosecuted by the EFCC for actions that did not constitute any legally recognized offenses.
The court highlighted that they had been subjected to an unnecessary criminal trial in relation to a civil transaction.
The EFCC had accused Senator Nwaoboshi and his companies of unlawfully acquiring Guinea House, a property located on Marine Road in Apapa, Lagos, for a sum of N805 million.
The agency alleged that the property belonged to the Delta State Government and further claimed that funds transferred by Suiming Electrical Ltd on behalf of Senator Nwaoboshi and Golden Touch Construction Project Ltd were suspected proceeds of their illicit activities.
In the Supreme Court’s judgment, it was established that the EFCC’s allegations lacked sufficient evidence to support the charges of fraud and money laundering against Senator Nwaoboshi and the two companies. The court concluded that the defendants had been unfairly targeted and subjected to an unwarranted legal process.
