The Supreme Court on Friday, quashed the conviction of Senator Peter Nwaoboshi and his sentencing to seven years imprisonment for offences of fraud and money laundering.
The apex court ordered the immediate release of the Senator representing Delta North Senatorial District from Ikoyi prisons in Lagos where he has been held in custody.
In a judgement 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).
In a split judgement of four-to-one, the Supreme Court set aside the July 1, 2022 judgment of the Court of Appeal, Lagos, which reversed their discharge and acquittal by a Federal High Court in Lagos.
In the lead judgment delivered by Justice Emmanuel Agim, the apex court held that Nwaobishi and the two companies were unjustly and maliciously prosecuted by the anti-graft agency for committing no offences known to law and subjecting them to needless criminal trial in relation to civil transaction.
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 Ltd on behalf of Nwaoboshi and Golden Touch Construction Project Ltd, adding that, the funds are believed to be proceeds of their illicit activities
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