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.
Liberia: Between Ebola And the ty...

The Sirleaf reign as president, as her stint in America’s big corp, has been tainted with allegations of corruption and nepotism and now with the Ebola epidemic.  Read more...

Submitted by
MARTIN BECK NWORAH
I am sorry

There is always a point in one's life when you'll sit down,shut your outer thoughts and meditate on the things that really matter. Read more...

Submitted by
Ajayi Osahenoma
Heaven and hell

There are two place we all are heading to, Heaven or hell, these two are matters of choice. Read more...

Submitted by
Omorogbe Dan Endurance
Change dear universe

Everything that’s happening in the universe today, are happening as a result of our actions, what we are doing and what we are not doing. Read more...

Submitted by
Chidi Anyaehie
What is Faan up to?

Since the exit of the former aviation minister Stella Odua, FAAN has constituted themselves into another NCS, but that's not all. Read more...

Submitted by
SAMUEL UFOT EKEKERE
Time for change: Now or later

Even amongst people of little or no spiritual attributes, there is a strong tendency towards waiting. Read more...