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Supreme Court Overrules Money Laundering Conviction Against Nwaoboshi, Orders Immediate Release from Prison

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The supreme court has over-turned the conviction of Peter Nwaoboshi, a former senator who represented Delta north.

He had been sentenced to seven years in jail.

In the judgment delivered on Friday, four of the five justices of the apex court held that the ex-lawmaker was unjustly and maliciously prosecuted by the Economic and Financial Crimes Commission (EFCC).

The EFCC had arraigned Nwaoboshi and his two firms – Golden Touch Construction Project Ltd and Suiming Electrical Ltd — in 2018 before Mohammed Idris, a judge who was later elevated to the court of appeal.

They were then re-arraigned before Chukwujekwu Aneke on October 5, 2018.

FROM APPEAL COURT TO SUPREME COURT

In the two-count charge marked FHC/L/117C/18, the EFCC alleged that the defendants laundered N322 million in 2014.

While dismissing the case, Aneke had ruled that the anti-graft agency failed to prove the elements of the offences for which it charged the ex-senator.

However, EFCC appealed the judgment and Nwaoboshi was sentenced to seven years imprisonment in July 2022.

Consequently, Nwaoboshi lodged an appeal before the supreme court.

In the lead judgment, Emmanuel Agim, supreme court justice, held that Nwaobishi and his two companies were unjustly and maliciously prosecuted by the EFCC for committing offences that were unknown to law.

He also ruled that they were subjected to a needless criminal trial in relation to a civil transaction.

The court also ordered Nwaoboshi’s immediate release from Ikoyi prison where he is being remanded.

TheCable

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A Peep into the World of Nollywood Acctress, Judith Iwu

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Name: Judith Iwu

Age: 42 years old

Place of Birth: Sokoto State, Nigeria

Partner: Ogechi Nwanekwu

Children: Bayo Iwu, Kizito Iwu, Angelica Iwu

Height: 6 feet tall

Award: International Media Personality Award

Career:

Judith Iwu is a renowned Nigerian actress with a distinguished career in Nollywood. Her exceptional acting talent has made her a standout performer in the industry, known for taking on complex roles that captivate audiences.

Notable Movies:

Judith Iwu has starred in several notable movies, including:

“House of Trouble”

“Priceless Woman”

“Nicest Gifts to Men”

“Evil Household”

“Virgins on Fire”

“Agony of Love”

“The Tigress”

These films have showcased her versatility, earning her respect from both peers and fans in the entertainment world.

Award:

Judith Iwu received the prestigious International Media Personality Award, highlighting her contributions not only as an actress but as a key figure in the media space. Her work continues to inspire upcoming talent within the industry.

Ended Marriage:

Judith Iwu’s marriage ended in 2006. After this, she faced the challenge of raising her three children—Bayo, Kizito, and Angelica—singlehandedly. Despite the personal difficulties, she balanced her responsibilities as a mother with her thriving acting career.

Current Partner:

Judith is currently in a supportive relationship with Ogechi Nwanekwu, who plays a significant role in her life. Together, they navigate their shared life while Judith continues to pursue her passions in the entertainment industry.

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Dele Momodu Bags NAOSNP Media Icon of the Decade Award, Thanks ‘Colleagues’

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By Eric Elezuo

Veteran and celebrated journalist, who is the Chairman, Ovation Media Group, Aare Dele Momodu, has been named the National Association of Online Security News Publishers (NAOSNP) Media Icon of the Decade for his contribution to the field of journalism as well as lifting budding journalists to reach their desired heights.

The award was presented by the Minister of State for Police Affairs, Hajia Imaan Sulaiman-Ibrahim, who was the Distinguished Guest of Honour at the occasion, assisted by the Assistant Inspector-General of Police in charge of Zone 2, Onikan, AIG Adegoke Fayoade, President of NAOSNP, Samson Oki and a host of other dignitaries present, at the 2024 National Security Conference of the Association, held at the Oriental Hotel, Lagos,  on Wednesday.

In her remarks at the presentation, the Honourable Minister praised the Ovation boss for his continuous to journalism, projecting African business and political leaders as well as other Nigerians in a positive light.

“We thank you Mr Ovation for all you do and continue to do. You deserve the award, and I happily present it to you,” the Minister, who reminisced with gusto the season Ovation covered her event, said.

In his response, an elated Dele Momodu, expressed gratitude to the executives and members of NAOSNP, whom he modestly described as ‘colleagues’, for considering him for the award, saying that it is always a thing of joy when your own constituency acknowledges your good works, and shows appreciation.

“I thank the members of this association for this award. It is fulfilling when your own colleagues remember you, and support you with an award of thus type. I thank the honorable minister for being available to present it to me. God bless the Federal Republic of Nigeria,” he said with a sense of patriotism.

Born on May 16, 1960, in the ancient city of Ile-Ife, Osun State, Chief Dele Momodu, a distinguished African Journalist of high repute, fulfills the dictates of impeccability in credentials, testimonials and track record.

A publisher, businessman, philanthropist,  and more, he runs the highly rated Ovation International Magazine, a member of the Ovation Media Group, that has given publicity to numerous personalities. Others in his line of publications are Ovation Television and The Boss Newspaper.

Momodu has redefined negative perceptions of Africa, profiling positively African personalities, using his X, Instagram and more, where his followership runs into millions.

A former presidential candidate, Momodu has a degree in Yoruba, from the Obafemi Awolowo University and Doctorates (honoris causa) from various universities, with multiple traditional titles.

He is well traveled, and has visited over 69 countries of the world.

He is married, with four children.

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Kyvatron Revolutionises Arbitrage Trading in Nigeria

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Bayo Chisom Iwu, Founder/CEO of Kyvatron, a multinational arbitrage trading company, is changing the face of investment in Nigeria. Established in June 2022, Kyvatron specialises in sourcing commodities and currencies cheaply in bulk and reselling them at a profit.

Iwu’s vision for Kyvatron began as a solo endeavor, but he soon realised the need for a more professional approach to attract major investors. Today, Kyvatron boasts an impressive portfolio, with operations spanning the US, UK, China, and Nigeria.

The company’s focus on arbitrage trading eliminates risks associated with traditional investments. By sourcing currencies and commodities in bulk, Kyvatron capitalises on wholesale rates and resells at retail prices, generating consistent profits.

Kyvatron’s innovative approach has attracted numerous investors seeking to combat inflation and financial insecurity. The company’s stable trading profits have positively impacted many lives, with returns reaching up to 23% per month.

“We specialise in Yuan Arbitrage trading, sourcing Chinese currency in bulk and reselling for profit,” Iwu explained. “Our profit comes from sourcing things in bulk, and with cryptocurrency, we can move billions of naira quickly and efficiently.”

To mitigate risks, Kyvatron deals with established brands and reputable partners, ensuring secure transactions. The company’s use of stable coins like USDT, pegged to the US dollar, protects investors from market fluctuations.

Kyvatron’s expansion plans include establishing more offices in Nigeria, with a focus on creating awareness about the benefits of arbitrage trading. Iwu aims to make the platform more robust, enabling users to pay suppliers directly and facilitating international trade.

“We’re filling a gap in the market, providing a secure and profitable investment opportunity for Nigerians,” Iwu said. “Our goal is to make Kyvatron a household name, synonymous with trust and reliability.”

With its innovative approach and commitment to investor satisfaction, Kyvatron is poised to revolutionise Nigeria’s investment landscape.

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