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Published On: Fri, Nov 29th, 2013

Ibori’s N4b Laundering: Court Fixes Dec 9 for Babalakin’s Re-Arraignment


LAGOS NOVEMBER 29TH (URHOBOTODAY)-A Lagos State High Court sitting in Ikeja will on December 9 re-arraign Wale Babalakin, the evasive chairman of Bi-Courtney who is implicated in the laundering of N4billion for former Delta State Governor, James Onafefe Ibori.
The Economic and Financial Crimes Commission is re-arraigning Mr. Babalakin following a judicial transfer of the case from the former trial judge, Mr. Adeniyi Onigbanjo
In the course of the hearing before Mr. Onigbanjo, the case failed to move forward as Mr. Babalakin deployed a series of evasive tactics. He often feigned illness in order to avoid appearing in court, and sometimes checked into the Lagos University Teaching Hospital. When he eventually showed up, he was flanked by some white garment church workers who came in their prayer robes, humming prayers against each charge count as it was read.
Mr. Babalakin allegedly facilitated the laundering of billions of Naira for Mr. Ibori, who is now serving a term of imprisonment in an English jail, using six companies to launder funds that were meant for purchasing a Bombardier plane for Mr. Ibori.
Although Mr. Babalakin was characteristically absent in court today, both prosecution and defense lawyers agreed to the December 9 re-arraignment before the new judge, Justice Lawal Akapo. It remains to be seen if Mr. Babalakin will actually show up.

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