N4.7bn money laundering charge: Ill-health stalls Babalakin’s arraignment

November 30, 2012 11 Comments »
N4.7bn money laundering charge: Ill-health stalls Babalakin’s arraignment

By FAITH OMORUYI

The proposed arraignment of the Chairman of Bi-courtney Limited, Olawale Babalakin and four others in a Lagos High Court sitting in Ikeja yesterday over an alleged N4.7 billion money laundered was stalled due to his absence. T

he Economic and Financial Crimes Commission ( EFCC) had filed a 27-count charge before Justice Adeniyi Onigbanjo against Babalakin, Bi-courtney Limited and Stabilini Visioni Limited, as well as Alex Okoh and his company, Remix Nigeria Limited for helping convicted ex-governor of Delta State, James Ibori to fraudulently transfer various sums of money through third party to some foreign accounts.

During proceedings yesterday, Okoh was present in court for the arraignment, but Babalakin was absent. Babalakin’s counsel, Ebun Sofunde (SAN) told the court that his client is currently on admission at Lagos University Teaching Hospital ( LUTH) over an unnamed ailment.

He stated that he had earlier presented a letter to the registrar of the court, which contained a medical report by one Dr. Charles Hammond on his client’s ill-health. He therefore, sought for a short adjournment from the court to enable the first defendant to recover to appear for his arraignment.

Though prosecution counsel, Rotimi Jacobs (SAN) did not counter Sofunde’s application for an adjournment, he stated that he was “disappointed at the tactics of the first defendant.” He noted that the said medical report was dated November 26, 2012 when Babalakin was at EFCC’s office in Abuja throughout November 26. He added that it took up to a week before EFCC officials were able to locate him and serve him court processes despite of all efforts to get him.

He said Babalakin was only released due to the presence of one Dr. Layonu (SAN) who came with him. Jacobs held that the sureties ought to have raised the issue of ill-health earlier so the agency could confirm the medical report, which was only brought to his team’s notice yesterday. In his response, Babalakin’s counsel stated that his client’s health could have deteriorated due to stress after he appeared before the EFCC office in Abuja on the 26 November, 2012 for questioning. However, delivering his ruling, Justice Onigbanjo directed the EFCC counsel to verify the claims that Babalakin was on admission at LUTH.

He also urged the commission to get an independent medical report on the true state of Babalakin’s health and adjourned the matter till December 12 for possible arraignment. According to the charge of conspiracy, retention of criminal proceeds and corrupt transfer of public funds filed against the defendants ,they allegedly corruptly conferred benefits on Ibori on contracts awarded to Stabilini by transferring the sum through a third party to Erin Aviation Account in Mauritius for the procurement of a Challenger Jet Aircraft by Ibori.

The defendants were also alleged to have siphoned money abroad for Ibori through the said Erin Aviation Account in Mauritius. The various companies that were used to transfer the alleged stolen fund includes Interactive Technologies Ltd, Sopetrol Oil and Gas Ltd, Casaka Nigeria Company Ltd, Geofluids Ltd, ABS Ltd and Hyundai Heavy Industries Nigeria Limited.


11 Comments

  1. Owerri November 30, 2012 at 3:17 am - Reply

    The babalakin i know is healthy enough. He is adopting delay tactics to pervert justice. 4.7 billion naira taken away from an individual alone and some people re there backing Sanusi to led off civil servants while few are busy siphoning amount meant to develop Nig. Let him appear on his sick bed before the law court, such is always the formula meted out to those that defrauded the govt in China.

  2. Owerri November 30, 2012 at 4:48 am - Reply

    Any failed contracts in Nigeria should attract death sentence, ie how it is done in China. If we re serious about fighting corruption in Nig death sentence must follow suit. Look at Babalakin,s face for instance that alone dipicts he is a herbitual swindler to the cure.

  3. fitex November 30, 2012 at 5:32 am - Reply

    Let’s be serious with d fight against corruption.when he was doing d deal he wasn’t sick but now he is called upon to answer some questions he begins his usual monkey game.let our judiciary get serious.if it were a common pick pocket he would b driven to court with black maria even when its obvious that he is sick.may be a London court will do d job.

  4. ManofGod November 30, 2012 at 6:31 am - Reply

    In others country you will appear in court with your drip not Nigeria I think we still have along way to go by amending our constitution. Anybody that steal government money death penalty is the answer I support ACF.

  5. Bond Boy November 30, 2012 at 7:05 am - Reply

    I AM SICK AND TIRED OF OUR JUDGES.YOU ARE SENDING INDEPENDENT INVESTIGATORS TO ASCERTAIN THE SICKNESS.WHEN THEY GO THERE NOW,THE MAN WILL GIVE THEM BRIBE.WELL MR JUDGE TO HELL WITH THAT IDIOT.HE SHOULD BE BROUGHT TO COURT WITH THE SPEED OF THE WIND.

  6. Chukwudi November 30, 2012 at 7:14 am - Reply

    Become a member of Netcontacts and be paid N1500 for each person u invite to register as member, Netcontacts business is real, and has the potential and everythin it takes to change ur life financialy, i’m encouraging u to embrace it and make tremendous benefits, for more details click here and register to get started http://www.netcontacts.com.ng/invitation/?invitationcode=329899355 i wish u Goodluck

  7. viccy November 30, 2012 at 7:30 am - Reply

    our main problem in nigeria is the constitution that favours the few rich poeple, and destroy the poor faster than the speed of light, then our judges are the second most corrupt set of poeple after the fake constitution

  8. AGOM November 30, 2012 at 8:05 am - Reply

    NOTHING WILL COME OUT BY THE END OF THE DAY. CORRUPT COUNTRY .

  9. The insider November 30, 2012 at 8:55 am - Reply

    Stealing stealing stealing all the way – lack of moral values.

  10. E.Frank November 30, 2012 at 4:34 pm - Reply

    Vccy,Agom &The Insider. I agree wt d 3of u &may God judge d evil ones by Himself. Amen!

  11. Ify boy November 30, 2012 at 10:20 pm - Reply

    Our justice system is soooo evasive and our judges/ lawyers are never for truth rather for money. all the big rogues get sick each time they are to face the law. why does our judges honour all false medical reports of high echelon thieves more than the book of the law. if lawyers will unite against corruption nigeria will be good.

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