EFCC opposes Babalakin’s bid to quash N4.7bn fraud charges

LAGOS—The application by Dr. Wale Babalakin and his co-defendants are asking an Ikeja High Court to quash the alleged N4.7 billion fraud charges preferred against them was yesterday opposed by the Economic and Financial Crimes Commission, EFCC. At the resumed hearing of the matter before Justice Lateef Lawal-Akapo, EFCC counsel, Mr. Rotimi Jacobs, SAN, opposed all the applications on the ground that the prosecutorial powers of the Federal Government, through the EFCC, was governed by the constitution. Babalakin, his two companies, Bi-Courtney Limited and Stabilini Vision Limited (3rd and 4th defendants) alongside Alex Okoh and Renix Nigeria Ltd, are facing a 27-count charge for fraudulently transferring N4.7 billion on behalf of the convicted former governor of Delta State, James Ibori. According to the commission, Babalakin and his co-defendants fraudulently assisted Ibori to transfer huge sums of money through various parties to Erin Aviation account in Mauritius for the purchase of a plane But the defendants had through their various lawyers filed separate applications asking the court to quash the N4.7bn charges, alleging that EFCC, as a federal agency, lacked valid fiat to prosecute them in a state high court.

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