Appeal Court Sentences Senator Nwaoboshi To Seven Years In Jail For Money Laundering

The Court of Appeal, Lagos, on Friday, sentenced the Senator representing Delta North Senatorial District, Peter Nwaoboshi, to seven years imprisonment for money laundering.

The Economic and Financial Crimes Commission (EFCC) arraigned Nwaoboshi and his two companies, Golden Touch Construction Project Limited and Suiming Electrical Limited on a two-count charge of fraud and money laundering.

The defendants were arraigned over the acquisition of a property named Guinea House in Marine Road, Apapa, Lagos, for N805 million.

The commission alleged that the N322 million Suiming Electrical Limited transferred on behalf of Nwaoboshi and Golden Touch Construction Project Limited was among the proceeds of fraud.

The Court also ordered that his two companies be wound up in line with the provisions of Section 22 of the Money Laundering Prohibition Act 2021.