Senator Peter Nwaoboshi, who represented Delta North Senatorial zone from 2015 to 2023, was declared innocent on points of law by the Supreme Court in Abuja on Friday, June 7, 2023. The court ordered his immediate release from the Correctional Centre, overturning the earlier conviction and sentencing imposed by the Lagos Division of the Court of Appeal.
The Court of Appeal had previously convicted and sentenced Senator Nwaoboshi to seven years imprisonment on July 1, 2022, based on a successful appeal by the EFCC against the judgment of the Federal High Court. However, the apex court, considering Senator Nwaoboshi’s appeal, declared him not guilty of the two-count charge of money laundering and fraud.
In response to the Supreme Court’s ruling, Mr. Philip Eleme, a senior aide to Senator Nwaoboshi, expressed vindication and commended the court for upholding justice. He emphasized that the conviction was politically motivated and a violation of Senator Nwaoboshi’s constitutional rights.
The Supreme Court highlighted several salient points in its judgment. It acknowledged that the loan obtained by Senator Nwaoboshi was duly applied for and properly serviced, with the loan capital and interest rate being paid in accordance with the agreement. The court noted that there was no evidence of fraudulent conversion of funds and that the prosecution by the EFCC violated the constitution.
Furthermore, the court affirmed that once a loan is credited into an individual’s account, it becomes their own money, and they cannot be accused of fraudulent conversion. The court criticized the EFCC for meddling in civil transactions and stated that the conviction by the Court of Appeal was unreasonable and should be set aside.
The announcement of Senator Nwaoboshi’s acquittal prompted jubilation among his supporters present at the court premises. The verdict marks a significant turning point in the legal battle that Senator Nwaoboshi has faced, restoring his reputation and affirming his innocence in the money laundering case.
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