The appeals court overturns Nwaoboshi’s conviction and jails him for money laundering for seven years.

Peter Nwaoboshi, a senator for the Delta North Senatorial District, was given a seven-year prison term for money laundering by the Lagos Court of Appeal on Friday.

Nwaoboshi and his two businesses, Golden Touch Construction Project Limited and Suiming Electrical Limited, were charged with fraud and money laundering on two counts by the Economic and Financial Crimes Commission (EFCC).

The defendants were charged in relation to the N805 million purchase of Guinea House in Marine Road, Apapa, Lagos.

The N322 million that Suiming Electrical Limited allegedly transferred on behalf of Nwaoboshi and Golden Touch Construction Project Limited was allegedly one of the fraud’s proceeds, according to the commission.

Justice Chukwujekwu Aneke of the Federal High Court, Lagos, discharged and acquitted the defendants on June 18.

However, the appellate court concluded in its decision that the prosecution had established its case against the defendants.

The judge in the lower court erred in law, the panel added, by rejecting the respondents’ charges.

In accordance with Section 22 of the Money Laundering Prohibition Act 2021, the court further mandated that the entities be dissolved.