Court discharge Babalakin of N4.7bn fraud charges

A Lagos State High Court sitting in Ikeja has discharged the Chairman
of Bi-Courtney Limited, Dr. Wale Babalakin, charged with N4.7bn fraud.
Also freed of the alleged crime by Justice Lateef Lawal-Akapo were
Babalakin's co-defendants: Alex Okoh, Stabilini Visioni Limited,
Bi-Courtney Limited and Renix Nigeria Limited.
Lawal-Akapo on Monday held that the charges filed against Babalakin
and others by the Economic and Financial Crimes Commission were
incurably bad and defective and could therefore not stand.
The EFCC had filed 27 counts bordering on conspiracy, retention of
proceeds of criminal conduct and corruptly conferring benefit on
account of public action against the accused.
The allegation of the anti-graft agency was that Babalakin and others
aided a former Governor of Delta State, James Ibori, who is now
serving a jail term in the United Kingdom, to siphon funds belonging
to the state.
The EFCC claimed that the allegedly siphoned fund, said to have run
into about N4.7bn, was transferred into the bank account of one Erin
Aviation in Mauritius for the purpose of purchasing an aircraft.
Babalakin and others, however, objected to the charge and urged the
court to dismiss them for want of competence.
The defendants' legal team comprising Dr. Biodun Layonu (SAN), Mr.
Tayo Oyetibo (SAN), Mr. Roland Otaru (SAN), Dr. Joseph Nwobike (SAN)
and Mr. Oladapo Akinosun, had predicated the objection on four issues.
One was whether the EFCC could prosecute a criminal case in the Lagos
State High Court without invoking the fiat of the Lagos State Attorney
General.
The defence also asked the court to determine whether Ibori was a
public officer within the contemplation of Section 98(a) of the
Criminal Code Laws of Lagos State 2003.
They further contended that it was an aberration in criminal justice
for two prosecuting authorities, in this case the EFCC and the
Attorney General of the Federation, to jointly file a charge against
one accused person.
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The defence asked the court to determine whether the EFCC had
disclosed enough information on the face of the charge to sustain its
case.
Lawal-Akapo, in his ruling on Monday, resolved three of the issues in
favour of the accused.
In the final analysis, the judge held, "I find and I hold that the
amended information dated May 7, 2013 is incurably bad and defective
and it is struck out.
"Consequentially, the accused persons are hereby discharged."
But the Head of Media and publicity of the EFCC, Mr. Wilson Uwujaren,
said in a statement on Monday that the commission would appeal the
verdict after a careful study of the ruling.
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