The companies are Golden Touch Construction Project Ltd and Suiming Electrical Ltd, in line with the provisions of Section 22 of the Money Laundering Prohibition Act 2021.
The ruling was sequel to an appeal to challenge the judgement of Justice Chukwujekwu Aneke of the Federal High Court, which on June 18, 2018, discharged and acquitted Nwaoboshi of two counts of fraud and money laundering.
“The Economic the EFCC had arraigned the three defendants over the acquisition of a property named Guinea House, Marine Road, 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 the proceeds of fraud.
“But in his judgement, Justice Aneke held that the prosecution failed to call vital witnesses and tender concrete evidence to prove the elements of the offences for which it charged the defendants.
“Justice Aneke said the evidence of PW2 ‘proved that the third defendant obtained a loan of N1.2 billion from Zenith Bank for purchase of additional equipment and as provision of working capital,” the Economic and Financial Crimes Commission had said in a Twitter post.
It added, “However, ruling on the EFCC’s appeal on Friday, the Court of Appeal held that the trial judge erred in dismissing the charges against the respondents. It said the prosecution had proved the ingredients of the offence and consequently found the defendants guilty as charged.”
But delivering judgment in Appeal NO. CA/LAG/CR/988/2021 between the Federal Republic of Nigeria as Applicant and Peter Nwaoboshi, Golden Touch Construction Projects Ltd and SUIMING Electrical Limited as Respondents, Justice Bayero set aside the judgment of Justice Aneke in No. FHC/L/117C/2018.
The justices held the in the judgment SaharaReporters obtained Certified True Copy, that the trial Court ought not to have discharged and acquitted the Respondents.