January 26, 2023

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Court acquits Nwaoboshi of N322m cash laundering demand | The Guardian Nigeria News

Peter Nwaoboshi

Justice Chukwujekwu Aneke of the Federal Significant Court docket sitting down in Lagos, yesterday, discharged and acquitted a Peoples Democratic Party (PDP) chieftain, Senator Peter Nwaoboshi, of the N322 million dollars laundering charge levelled from him by the Economic and Financial Crimes Fee (EFCC).

The decide held that the case of the prosecution collapsed when it failed to connect with essential witnesses and supply concrete proof to show and create its allegations.

Nwaoboshi, a senator, representing Delta North, was arraigned in 2018 by the EFCC on two counts of cash laundering.

Also billed were two companies named Golden Contact Building Venture Ltd. and Suiming Electrical Ltd.

He experienced pleaded not responsible to the fees and was granted bail.

Demo commenced prior to Justice Mohammed Idris on April 25, 2015, but following the elevation of Idris to the Court of Attraction in June 2018, the circumstance started afresh on Oct 5, 2018 just before Justice Aneke.

The EFCC stated that Nwaoboshi dedicated the offences involving May well and June 2014, in Lagos.

He was stated to have obtained a assets described as Guinea Residence, Maritime Road, in Apapa Lagos, for N805 million.

The prosecution stated that the lawmaker fairly ought to have recognised that N322 million out of the acquire sum shaped component of the proceeds of an unlawful act.

The sum was explained to have been transferred to the vendors by buy of Suiming Electrical Ltd.

The prosecution submitted its composed addresses on January 21, 2021, while the defendants filed their created addresses on February 3 and 9, 2021.

Offering judgement, yesterday, Justice Aneke reviewed evidence as tendered by the witnesses and evaluated vital substances of the expenses.

The court held that the evidence led by PW1 (Prince Kpokpogri) was primarily based on a contact from an nameless caller, adding that he did not tender the files equipped to him by the mentioned caller, who was also never termed as a witness to testify.

He held that the proof of the 1st prosecution witness could thus only qualify as hearsay.

“PW2, Abubakar, will work with Nexim Financial institution and the summary of his proof was that the sum of N1.2 billion was granted to the 3rd defendant on his software for a interval of five several years with desire.

“That the cash, which is N1.2 billion, has been repaid, though around N700 million interest has been paid out and that only about N24 million is excellent on the mentioned mortgage.

“He said that at the time of his testimony, the tenure of the personal loan experienced not expired. The summary of his proof was that the bank loan was frequently and appropriately granted to the defendant,” the judge pointed out.

The courtroom held that the evidence of PW2 experienced large probative worth.