N4.7 Billion Fraud: Court Adjourns Wale Babalakin’s Trial Till Feb

An Ikeja High Court in Lagos on Monday adjourned the trial of the Chairman of Bi-Courtney Ltd., Wale Babalakin, till February 17, to enable the defence lawyers regularise applications filed before the court.

Babalakin is being prosecuted for an alleged N4.7 billion fraud by the Economic and Financial Crimes Commission, EFCC.

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The EFCC had charged him, alongside Alex Okoh and their companies – Stabilini Visioni Ltd., Bi-Courtney Ltd. and Renix Nigeria Ltd. – on 27 counts for allegedly laundering money on behalf of convicted former Delta State Governor, James Ibori.

During Monday’s proceedings, the judge, Justice Lateef Lawal-Akapo, informed the parties that he needed time to examine some of the processes filed by the defence lawyers.

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“Apart from Roland Otaru (counsel to the third defendant), all the other applications were brought to my attention about 20 minutes ago. In a matter of this nature, it is always good to study the processes and ask pertinent questions as the matter goes along,’ he said.

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The judge therefore adjourned the case till February 17 for further hearing.



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