Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.

 

EFCC to arraign Babalakin

16 January 2013, 16:21

Lagos - The Economic and Financial Crimes Commission (EFCC) will on Thursday arraign the Chairman of Bi-Courtney Ltd., Wale Babalakin for an alleged N4.7 billion fraud.

The News Agency of Nigeria (NAN) reports that Babalakin was charged before Justice Adeniyi Onigbanjo of a Lagos High Court in Ikeja.

He was charged alongside Alex Okoh, Stabilini Visioni Ltd., Bi-Courtney Ltd. and Renix Nigeria Ltd. for fraudulently transferring N4.7 billion on behalf of convicted former governor of Delta, James Ibori.

Efforts to arraign the defendants were stalled on Nov.29, 2012 and Dec. 12, 2012, after Babalakin's counsel told the court that the first defendant was on admission at the Lagos University Teaching Hospital (LUTH).

EFCC spokesperson, Mr Wilson Uwujaren, told NAN on Wednesday that Babalakin has since been discharged from LUTH and was fit to take his plea.

"We have a court date tomorrow and it is for the arraignment of Babalakin and the other defendants", Uwujaren said.

The EFCC had alleged that the defendants fraudulently assisted Ibori to transfer various sums, through various parties, to Erin Aviation account in Mauritius for the purchase of a Challenger Jet aircraft.

The defendants are facing a 27-count charge bordering on conspiracy, retention of proceeds of a criminal conduct and corruptly conferring benefit on account of public action.

EFCC counsel, Mr Rotimi Jacobs (SAN), had alleged-- when the case came up last-- that Babalakin was trying to flee the country to evade arraignment.

The defendant’s counsel, Chief Bolaji Ayorinde (SAN) and Dr Abiodun Layolu (SAN), had, however, countered the claim, describing it as "a wild allegation".

The judge had adjourned the matter to Jan.17, for his possible arraignment.

NAN reports that Justice Ibrahim Buba of a Federal High Court in Lagos, had also on Dec.21, 2012, dismissed Babalakin's suit against the EFCC, challenging his arraignment. (NAN) The Economic and Financial Crimes Commission (EFCC) will on Thursday arraign the Chairman of Bi-Courtney Ltd., Wale Babalakin for an alleged N4.7 billion fraud.

The News Agency of Nigeria (NAN) reports that Babalakin was charged before Justice Adeniyi Onigbanjo of a Lagos High Court in Ikeja.

He was charged alongside Alex Okoh, Stabilini Visioni Ltd., Bi-Courtney Ltd. and Renix Nigeria Ltd. for fraudulently transferring N4.7 billion on behalf of convicted former governor of Delta, James Ibori.

Efforts to arraign the defendants were stalled on Nov.29, 2012 and Dec. 12, 2012, after Babalakin's counsel told the court that the first defendant was on admission at the Lagos University Teaching Hospital (LUTH).

EFCC spokesperson, Mr Wilson Uwujaren, told NAN on Wednesday that Babalakin has since been discharged from LUTH and was fit to take his plea.

"We have a court date tomorrow and it is for the arraignment of Babalakin and the other defendants", Uwujaren said.

The EFCC had alleged that the defendants fraudulently assisted Ibori to transfer various sums, through various parties, to Erin Aviation account in Mauritius for the purchase of a Challenger Jet aircraft.

The defendants are facing a 27-count charge bordering on conspiracy, retention of proceeds of a criminal conduct and corruptly conferring benefit on account of public action.

EFCC counsel, Mr Rotimi Jacobs (SAN), had alleged-- when the case came up last-- that Babalakin was trying to flee the country to evade arraignment.

The defendant’s counsel, Bolaji Ayorinde (SAN) and Dr Abiodun Layolu (SAN), had, however, countered the claim, describing it as "a wild allegation".

The judge had adjourned the matter to Jan.17, for his possible arraignment.

NAN reports that Justice Ibrahim Buba of a Federal High Court in Lagos, had also on Dec.21, 2012, dismissed Babalakin's suit against the EFCC, challenging his arraignment.

NAN

NEXT ON NEWS24 NIGERIAX

Read News24’s Comments Policy

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
Peregrino Brimah
When will Jonathan apologize to N...

I was reading Reuben Abati today, doing his paid job of trying to defend the president of Nigeria in the case of the three month-long abducted, ‘raped and killed’ girls.  Read more...

Submitted by
Peregrino Brimah
Jonathan’s Presidency is like a f...

Will we keep such doctor operating in the village for fear of who will operate on and medicate our patients after he is locked in jail? This is the question we must ask ourselves. Read more...

Submitted by
Peregrino Brimah
ID cards in the jungle?

It has been a few days since we read about the ‘ID cards in the Boko Haram jungle camps of Balmo Forest.’ ID cards in the jungle? Read more...

Submitted by
Peregrino Brimah
Arrest them or arrest anyone that...

The world is tired of hearing this same pathetic song – that some elements against the current ruler’s administration are behind Boko Haram terror. Read more...

Submitted by
DSAGE
Who said that God is not wicked?

I will say it plainly that the God I see is a "wicked One" from old, not a good One like that. Read more...