Home » Appeal Court jails senator Nwaoboshi 7 years for money laundering

Appeal Court jails senator Nwaoboshi 7 years for money laundering

by Chief-Editor
0 comment
Kindly share this story:
The Court of Appeal in Lagos has convicted and sentenced Senator Peter Nwaoboshi, senator representing Delta North Senatorial District at the National Assembly, to 7 years imprisonment.

The judgement of the court also includes that his two companies, Golden Touch Construction Project Limited and Suiming Electrical Limited, be wound up in line with the provisions of Section 22 of the Money Laundering Prohibition Act 2021.

The Appellate Court’s ruling followed the success of the appeal by the Economic and Financial Crimes Commission, EFCC, challenging the judgement of Justice Chukwujekwu Aneke of the Federal High Court which on June 18, 2021 discharged and acquitted the defendants of a two count charge of fraud and money laundering.

EFCC had arraigned the three defendants over the acquisition of a property named Guinea House, Marine Road, in Apapa, Lagos, for N805 million. Part of the money paid to the vendor, precisely a sum of N322 million transferred by Suiming Electrical Ltd on behalf of Nwaoboshi and Golden Touch Construction Project Ltd, was alleged to be part of proceeds of fraud.

But in his judgement, Justice Aneke held that the prosecution failed to call vital witnesses and tender concrete evidence to prove the elements of the offences for which it charged the defendants.

Justice Aneke said the evidence of PW2 “proved that the third defendant obtained a loan of N1.2 billion from Zenith Bank for purchase of additional equipment and as provision of working capital.

“It also proved that the loan of N1.2 billion together with interest of N24 million was properly granted to the third. Nothing else was proved by the complainant or prosecutor in this case,” the judge said.

He claimed a fatal blow was dealt the case of the prosecution by its failure to call officials of Sterling Bank “to testify and probably tender exhibits F and F10.”

Consequently, he discharged and acquitted the defendants.

However ruling on the EFCC’s appeal today, the Court of Appeal held that the trial judge erred in dismissing the charges against the respondents. It said the prosecution had proved the ingredients of the offence and consequently found the defendants guilty as charged.

Kindly share this story:

Leave a Comment

About Us

FreedomPost LOGO

Freedom Post (FP) is a publication of FREEDOM POST MEDIA SERVICES.
At FP, we are committed to truly unbiased accounting of event or information without spin or slant. We strongly believe in an accurate depiction of what happened, is happening or is about to happen, presenting all sides while we remained neutral. To us, the death of straight journalism means the slippery slope of democracy.

Quick Links

Find us on

@2020 | FREEDOM POST – All Right Reserved. – All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy