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Nairaland Forum / Nairaland / General / Politics / EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot (5194 Views)
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EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Boyoorisha: 2:47am On Jan 18, 2013 |
Economic and Financial Crimes Commission has finally arraigned Chairman, Bi-Courtney Highway Services, Dr. Wale Babalakin, for allegedly laundering N4.7bn for convicted former Delta State Governor James Ibori. The EFCC late on Wednesday declared Babalakin wanted as he was said to have failed to report at its office, preparatory to his arraignment on Thursday. Arraigned along with Babalakin at a Lagos High Court, Ikeja, on Thursday were Alex Okoh, Stabilini Visioni Limited, Bi-Courtney Limited and Renix Nigeria Limited. Part of the 27 counts slammed on the accused included using the money to purchase a Challenger Jet aircraft from Erin Aviation in Mauritius on behalf of Ibori between May and December 2006. Thursday’s proceedings were devoid of accusations and counter-accusations between Babalakin’s lawyers and the EFCC’s counsel, a feature of two previous court sessions, when the Bi-Courtney boss arraignment failed on the account of his absence from court. The prosecuting counsel, Mr. Rotimi Jacobs (SAN), alleged that Babalakin and his two firms, Stabilini Visioni Limited and Bi-Courtney Ltd, “did corruptly confer benefit on former Governor James Onanefe Ibori.” The prosecution also accused Babalakin and the four other accused of “retention of proceeds of a criminal conduct” on behalf of Ibori. Among the firms fingered in the charge to have been used for the transfers of the money to Erin Aviation are Interactive Technologies/TN Focus and Supetrol Oil and Gas Ltd. According to the prosecution, the alleged offence of “corruptly conferring benefit on account of public action” contravenes Section 516 of the Criminal Code Law, CAP C17, Laws of Lagos State, 2003. It also said the accused’s retention of proceeds of a criminal conduct is contrary to Section 17 (a) of the EFCC (Establishment Act 2004) Babalakin and Okoh, who both pleaded not guilty to the counts for themselves and for the three accused firms, were, after taking their plea, released on bail “on self-recognition”. The presiding judge, Justice Adeniyi Onigbanjo, in granting the prayer as canvassed by the counsel for the duo, however, said they must deposit their travel passport with the EFCC as “a precautionary measure”. Though Jacobs did not oppose the separate bail applications, he objected granting it on the basis of “self reognition”. Babalakin’s counsel, Mr. Wale Akoni (SAN), urged Onigbanjo to consider his client’s status as member, Body of Benchers, the Pro-Chancellor of the University of Maiduguri and the Chairman, Forum of Pro-Chancellors of Nigerian Federal Universities. Granting Babalakin’s prayer, Onigbanjo said, “The court is aware of all the considerations cited and it is aware of the status of the defendants in the country. The defendant is hereby granted bail on the basis of self-recognition.” The judge adjourned till February 25 for the hearing of the applications by all the accused seeking the quashing of the charges as they alleged that same were incompetent. http://www.punchng.com/news/efcc-finally-arraigns-babalakin-over-n4-7bn-iboris-loot/ |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by oloto(m): 9:15am On Jan 18, 2013 |
Thank God. We are getting there. I hope they get to the root and punish them severely if they are found guilty. |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by worldman(m): 9:19am On Jan 18, 2013 |
To hell with E F C C stupid people |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by jpcomrade: 9:26am On Jan 18, 2013 |
Business as usual |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by sharpshap(m): 9:27am On Jan 18, 2013 |
All na wash! |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Nobody: 9:27am On Jan 18, 2013 |
what of Farouk? Otedollar? EFCC is indeed a 'power to the people' thing, if you say PDP na u sabi... |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by gen2briz(m): 9:28am On Jan 18, 2013 |
Thank say Babalakin has been found |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by chymystique(f): 9:30am On Jan 18, 2013 |
**Evryday Court Adjournments |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Maxymilliano(m): 9:37am On Jan 18, 2013 |
Nothing will come out of this case |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Frankest: 9:42am On Jan 18, 2013 |
worldman: To hell with E F C C stupid people[color=#006600][/color] |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Nobody: 9:42am On Jan 18, 2013 |
Mak dem dey....we dey vexxxxx |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by danikik7: 9:44am On Jan 18, 2013 |
The Nigeria judiciary is rotten,the bad eggs therein is alarming because of the sanctuary they provide for these looters that are supposed to be executed. |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Igholize(m): 9:46am On Jan 18, 2013 |
Anytin wey dem like, mak dem do..... We re all watching |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Wendyslim(f): 9:56am On Jan 18, 2013 |
We don hear.very soon dem go pend the case. Next pls 1 Like |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Ayorh4you(m): 9:59am On Jan 18, 2013 |
Story Story..........anoda fairytale |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Olugbenger(m): 10:04am On Jan 18, 2013 |
ah tink this BABALAKIN is not prosecuted,he is PERSECUTED...probably he has stepped on BIG TOES...toes big enough to bring him down |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by gunuvi(m): 10:55am On Jan 18, 2013 |
oloto: Thank God. We are getting there. I hope they get to the root and punish them severely if they are found guilty.Your post surprise me o. You no dey Nigeria or you no know how things runs here? After two court adjournments, you no go hear anything again, then they will start another case with another person again and again. |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Ebubejesus(m): 11:02am On Jan 18, 2013 |
Na today....... story all the time |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by MadCow1: 11:05am On Jan 18, 2013 |
oloto: Thank God. We are getting there. I hope they get to the root and punish them severely if they are found guilty. How many times EFCC don carry people go court?! How many case dem don win?! All na wash jor!! 2 Likes |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by slimming: 11:24am On Jan 18, 2013 |
Efcc should go and sit down with their noise making process. |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by ceejayluv(m): 12:59pm On Jan 18, 2013 |
Olugbenger: ah tink this BABALAKIN is not prosecuted,he is PERSECUTED...probably he has stepped on BIG TOES...toes big enough to bring him downDid he or did he not launder money? That is the question. |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Ann77: 1:00pm On Jan 18, 2013 |
All na wash...nothing dey happen |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by pappilo(m): 1:52pm On Jan 18, 2013 |
Granted bail on self recognition for an offence of fraud involving almost $30 million! SMFH! |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Phikom(m): 3:39pm On Jan 18, 2013 |
Maxymilliano: Nothing will come out of this caseno be 2day..... |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Monjerk: 10:11pm On Jan 18, 2013 |
Who cares, if efcc like they should arrest Goodluck n Obj. Efcc with their mission impossible dealings. Next pls |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by wirinet(m): 12:21am On Jan 19, 2013 |
Nigerian judicial system is a farce. How can someone launder the proceed of crime perpetuated by ibori, when the courts have declared ibori is crime free. So who committed the crime that Babalakin is said to benefit from? |
Re: EFCC Arraigns Babalakin Over N4.7bn Ibori’s Loot by Tinyemeka(m): 7:53am On Jan 19, 2013 |
'Granted bail on self-recognition'. I feel like throwing up. |
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