The Supreme Court has quashed the conviction and sentence of Senator Peter Nwaoboshi representing Delta North Senatorial district at the Senate.
Senator Nwaoboshi who is currently held in Ikoyi correctional facility, Lagos state, was sentenced to seven years for offences bordering on fraud and money laundering.
But in a split decision of four-to-one, the apex court on Friday, ordered his immediate release from prison.
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 EFCC had accused the senator 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 prosecuting 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 were believed to be proceeds of illicit activities. The 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.
Justice Emmanuel Agim, in his lead judgment 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 relations to civil transaction. But in the dissenting judgment, Ibrahim Saulawa said the Court of Appeal was right to have convicted Mr Nwaoboshi for fraud.
Mr Saulawa added that the financial transactions involving Mr Nwaoboshi and his companies had elements of dishonesty. EFCC had accused Mr Nwaoboshi and his companies of unlawfully acquiring an asset named Guinea House on Marine Road, Lagos, for N805 million. The said property belonged to the Delta State government.
