Money Laundering: Babalakin Secures Bail After Reporting At EFCC

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The Chairman of Bi-Courtney Services Ltd, Mr Wale Babalakin, yesterday reported himself at the Economic and Financial Crimes Commission, EFCC, after being discharged from the Lagos University Teaching Hospital where he had been on admission for stress and other undisclosed ailments.

A source disclosed that Babalakin was never arrested, but rather, he reported at the EFCC office with a doctor and a nurse around n0on when he met with some officials of the commission. After spending an hour, he was asked to go in a decision that got clearance from the commission’s headquarters in Abuja.

This development comes after several days of legal battles to prevent his arrest for allegedly laundering N4.7bn on behalf of convicted former Delta State Governor, James Ibori.

This was confirmed by the EFCC spokesman, Mr Wilson Uwujaren, who said he might be granted bail. He also said that if Babalakin was able to perfect his bail and regain his freedom, he would have to be in court on January 17, 2013 to answer charges on money laundering in this present case.

It will be recalled that Babalakin had his applications asking the court to restrain the EFCC from arresting him were rejected.

For instance, Justice Mohammed Idris, had on December 14, struck out a suit by Babalakin seeking the leave of the court to prohibit the EFCC from arranging him, citing incompetence of the charge brought against him by the EFCC.

He also filed another suit at the Lagos High Court, Ikeja through his counsel, Wale Akoni (SAN), seeking an order to prevent the police and the State Security Service from arresting him in connection with the charge at the Lagos High Court, Ikeja unless the trial judge, Justice Adeniyi Onigbanjo ordered so.

He had claimed that the EFCC was denying him his fundamental rights to free movement and personal dignity by laying siege at the hospital where he was on admission, which amounted to unjust incarceration.

His counsel, Akoni, argued that the allegation by the EFCC that his client was plotting to escape the country could not be justified with any shred of evidence.

However, EFCC’s counsel, Mr Rotimi Jacobs (SAN) disagreed with the argument by telling the court that “the action of its client is not a breach of fundamental human right. This is a case of non-compliance to enjoy that right.”

He asked the court to dismiss the suit.

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