Alleged N805m fraud: S’court Clears Nwaoboshi, Orders His Release

By Peters Monday, Abuja

The Supreme Court has faulted the conviction of Senator Peter Nwaoboshi (Delta North) and his sentencing to seven years imprisonment for offences of fraud and money laundering.

Congress gathered that the apex court ordered his immediate release from Ikoyi prisons in Lagos, where he is currently being held.

While giving judgment on Friday, the Supreme 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 the Economic and Financial Crimes Commission, EFCC.

However, the Supreme Court sets aside the July 1, 2022 judgment of the Court of Appeal, Lagos, which had reversed their discharge and acquittal by a Federal High Court in Lagos.

The apex court, presided over by Justice Emmanuel Agim, held that Nwaobishi and the two companies were unjustly and maliciously prosecuted by the EFCC for committing no offences known to law.

Court faulted the EFCC for subjecting the accused to needless criminal trial in a supposed civil transaction.

It would be recalled that the EFCC had accused Nwaoboshi and his companies of illegally acquiring a property named Guinea House on Marine Road, in Apapa, Lagos, for N805 million, property said to belong to the Delta State Govt.

The anti-graft agency had claimed that part of the money paid for the property was transferred by Suiming Electrical Ltd on behalf of Nwaoboshi and Golden Touch Construction Project Ltd, stating that the funds were believed to be proceeds of their illicit activities.