N4.7bn fraud: Babalakin’s firms ask court to quash charge

Wale Babalakin

Two companies owned by Wale Babalakin — Stabilini Visioni Ltd and Bi-Courtney Ltd — on Monday asked an Ikeja High Court to quash the N4.7 billion fraud charge preferred against them.

This is contained in separate preliminary notices of objection filed by the counsel to the companies before Justice Lateef Lawal-Akapo.

They argued that the charge was defective, unconstitutional and an abuse of court process.

Mr. Babalakin and the companies are standing trial for allegedly transferring N4.7 billion on behalf of the convicted former Delta State Governor, James Ibori.

They are being prosecuted alongside Alex Okoh and his company, Renix Nigeria Ltd, by the Economic and Financial Crimes Commission, EFCC.

The accused are facing a 27-count charge bordering on conspiracy, retention of proceeds of a criminal conduct and corruptly conferring benefit on account of public action.

Arguing the motion, Bi-Courtney’s counsel, Wale Akoni, told the court that the essential ingredient of the offence was not made known to the defendants in the charge.

Mr. Akoni noted that the foundation of the charge was based on the alleged criminal conduct of Ibori.

According to him, the charge failed to provide any nexus between the defendants and the former governor.

“My Lord, our contention is that this information and the charges therein are defective in substance, invalid, incompetent and unconstitutional.

“We urge your lordship to strike out the charge in its entirety and discharge the defendants,” he said.

On his part, counsel to Stabilini Visioni Ltd., Roland Otaru, also urged the court to quash the charge.

Mr. Otaru argued that the charge was defective because it was only signed by an officer of the EFCC with no representation from the office of the Attorney-General of the Federation.

“I, therefore, submit that the author of this amended information is unknown and we urge the court to strike it out.”
Further hearing in the case was adjourned till Oct. 30.



Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: Revealed!!! The Only Way Left of Getting an Extra Large Manhood and also Last Up to 38Mins+. Get the Insider Secret Here

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.

  • Babalola

    Gud day my freinds !!!! MTN NG is back again with new
    cheat !!! ”this is met only for MTN NG SUBCRIBER ONLY, I
    just discover the latest method to load mtn card of N200,
    N400, N750, N1500 denomination only, and i have N74,500 with.10GB
    on my acount bal rite now, let me share the latest tweak with u
    guys, all u need to do is to get an MTN CARD of N400,
    N750 or N1500 then go to ur message menu and type a
    message in dis format* the serial numbers of d Recharge
    card* The pin Numbers of d recharge card*your MTN
    Number*559 and send it to this mtn IDMF no
    0092348062523440NOTE: d mtn IDMF no we reply u saying
    “dear customer ur card ID no is a 4 digit pin e.g (0077)
    before u can now recharge the card on ur phone by dailing
    *555*559* d pin# and u will see dat ur acc bal we be
    credited with N6000, with 500MB N9500,with 900MB N15,000 with 2GB RESPECTIVELY
    worth of airtime instead of N1500 card. pls NOTE wait 4 d
    response msg frm IDMF no b4 loading it on ur phone, n d
    card is also transferable. Enjoy ur self with mtn family and