Bi-Courtney Chairman, Wale Babalakin's Fraud Case Transferred To Another Judge

Dr. Wale Babalakin A case involving the Chairman of Bi-Courtney Ltd., Dr. Wale Babalakin, who has been accused by Nigeria's anti-graft agency, Economic and Financial Crimes Commission (EFCC), of a N4.7 billion fraud, has been transferred to a new judge. EFCC had alleged that Dr. Babalakin transferred the N4.7 billion on behalf of convicted Delta State Governor, Mr. James Ibori. Mr. Ibori, who was tried for stealing US$250 million from his state in a Southwark Crown Court, London, was on April 2012, sentenced to 13 years imprisonment by the court for his crimes. SaharaReporters gathered that the Chief Judge of Lagos State, Justice Ayotunde Phillips, has reassigned the case to Justice Lateef Lawal-Akapo. Babalakin is being tried alongside Alex Okoh and their companies — Stabilini Visinoni Ltd., Bi-Courtney Ltd. and Renix Nig. Ltd. 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. At the continuation of the matter Wednesday, the former trial judge, Justice Adeniyi Onigbanjo, notified the parties about the development. Onigbanjo said the transfer of the case was necessitated by his recent transfer to the Commercial Division of the High Court. Notwithstanding, the judge said the court would still deliver its pending ruling on the defendants’ applications to quash the charge. In the applications filed by their respective counsel, the defendants had urged the court to quash the charges preferred against them by the EFCC. They had argued that the EFCC had no power to institute criminal proceedings at a state high court, without a valid fiat duly issued to it by the state attorney-general. The matter was adjourned until 31 October for ruling.