Senator Peter Nwaoboshi, who represented Delta North Senatorial zone from 2015 to 2023, was declared innocent by the Supreme Court in Abuja on Friday, June 7, 2023, in the alleged money laundering and fraud case brought against him by the Economic and Financial Crimes Commission (EFCC). The court ordered his immediate release from the Correctional Centre.
The Lagos Division of the Court of Appeal had previously convicted and sentenced Senator Nwaoboshi to seven years imprisonment on July 1, 2022. However, his lead counsel, Kanu Agabi, obtained an immediate release order as the apex court overturned the Court of Appeal’s ruling.
The Supreme Court affirmed the innocence of Senator Nwaoboshi, declaring him not guilty of the two-count charge. The court highlighted that the loan in question was duly applied for, properly serviced, and there was no basis for prosecution. The evidences presented defeated claims of fraudulent conversion of funds, and the arrest, prosecution, and conviction by the Court of Appeal were deemed unconstitutional.
The Supreme Court emphasized that once a loan is given and the money is credited into the borrower’s account, it becomes their own money, and they cannot be accused of fraudulent conversion. The court criticized the EFCC for involving itself in civil transactions and noted that the entire process at the Court of Appeal was malicious.
The judgment brought jubilation among Senator Nwaoboshi’s supporters, who viewed the conviction as a result of political witch-hunt ahead of the 2023 general elections. The court’s decision has reaffirmed its commitment to justice and standing on the side of truth.
The acquittal of Senator Nwaoboshi by the Supreme Court clears his name and upholds his constitutional rights. It also highlights the importance of upholding the principles of justice and ensuring that prosecutions are based on solid evidence rather than personal motives.
