The Supreme Court has set aside the conviction and sentencing to seven years imprisonment of Senator Peter Nwaoboshi for offences bordering on fraud and money laundering.

In a lead judgement by Justice Emmanuel Agim on Friday, July7, 2023, the Supreme Court held that Nwaobishi and his two companies – Golden Touch Construction Project Limited and Suiming Electrical Limited – were unjustly and maliciously prosecuted by the Economic and Financial Crimes Commission (EFCC) for committing no offences known to law, who subjected them to needless criminal trial in relation civil transaction.

The apex court set aside the July 1, 2022, judgement of the Court of Appeal, Lagos Division, which had reversed their discharge and acquittal by a Federal High Court sitting in Lagos.

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The Supreme Court, therefore, ordered Nwaobishi’s immediate release from Ikoyi prison in Lagos, where he is currently being held.

The court also freed the two companies tried with him on a two-count charge brought against them by EFCC.

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 Government.

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

The Star