N4.7 Billion Fraud: EFCC angry as jittery Wale Babalakin fails to appear in court again...Wants his bail revoked

Babalakin in the dock

The Economic and Financial Crimes Commission (EFCC) has berated the embattled chairman of Bi-Courtney, Dr. Wale Babalakin for failing to appear in court yesterday at his on going trial alongside four others for allegedly fraudulently transferring N4.7 billion on behalf of the convicted ex governor of Delta State, James Ibori.
At yesterday's proceedings, counsel to the EFCC, Mr. Rotimi Jacobs (SAN), expressed his disappointment that Babalakin was not in court again and urged the court to revoke the bail earlier granted him for failing to attend proceedings twice.
He further argued that the accused absence in court was a breach of his bail conditions and act of disrespect to the court.
However, Babalakin's counsel, Mr. Wale Akoni (SAN), urged the court to discountenance Jacob's appeal for the revocation of his client's bail.
Babalakin's woes began when the EFCC alleged that himself and his co-defendants fraudulently assisted Ibori to transfer huge sums of money through various parties to Erin Aviation account in Mauritius, for the purchase of a Challenger jet aircraft.