In the lead judgment delivered by Justice Emmanuel Agim, the apex court ruled that the Economic and Financial Crimes Commission (EFCC) unjustly and maliciously prosecuted Nwaoboshi and the two companies involved, as their actions did not constitute any legally recognized offenses. The court deemed the criminal trial unnecessary, considering it revolved around a civil transaction.
The Supreme Court nullified the previous ruling of the Court of Appeal’s Lagos Division, which had reversed the discharge and acquittal initially granted by the Federal High Court’s Lagos Division.
Consequently, Senator Nwaoboshi will be released immediately from Ikoyi Prison in Lagos, where he has been held. The two companies implicated in the case, Golden Touch Construction Project Ltd and Suiming Electrical Ltd, are also freed from the charges brought against them by the EFCC.
The EFCC’s allegations centered on Senator Nwaoboshi and his companies unlawfully acquiring Guinea House on Marine Road in Apapa, Lagos, for N805 million. The property was claimed to belong to the Delta government.
The anti-graft agency further asserted that a portion of the payment for the property was transferred by Suiming Electrical Ltd on behalf of Senator Nwaoboshi and Golden Touch Construction Project Ltd, alleging that the funds were derived from illicit activities.