The Lagos Division of the Court of Appeal on Friday convicted and sentenced Senator Peter Nwaoboshi, senator representing Delta North Senatorial District at the National Assembly, to seven years in prison along with his two companies: Golden Touch Construction Project Ltd and Suiming Electrical Ltd.
This was contained in a statement from the EFCC which prosecuted the case.
The EFCC had challenged the judgment 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.