Senator Peter Nwaoboshi

The Supreme Court has nullified the conviction of the senator representing Delta North, Peter Nwaoboshi.

 Nwaoboshi was handed a seven-year jail term for fraud and money laundering

The apex court on Friday, July 7, ordered his immediate release from Ikoyi prisons in Lagos where he is being held.

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).

The judgement was given in a split decision of four-to-one.

The apex 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 a lead judgment by Justice Emmanuel Agim, the court held that Nwaobishi and the two companies were unjustly and maliciously prosecuted by the EFCC for committing no offences known to law, who subjected them to needless criminal trial in relation civil transaction.

Recall 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, adding the funds are believed to be proceeds of their illicit activities.