N4.7bn fraud: Babalakin knows fate March 5

Babalakin

Justice Lateef Lawal-Akapo of an Ikeja High Court yesterday fixed March 5 to hear the separate applications filed by Chairman of Bi-Courtney Ltd., Wale Babalakin and his co-defendants, challenging the jurisdiction of the court to entertain the N4.7 billion fraud charge preferred against them.

SHOWBIZPLUS gathered that Babalakin and his co-defendants- Alex Okoh, Stabilini Visioni Ltd., Bi-Courtney Ltd. and Renix Nigeria Ltd, were dragged to court by the Economic and Financial Crimes Commission, (EFCC). They had argued that the EFCC lacked the power to prosecute them before a state high court without a valid fiat.

The defendants are challenging the court’s jurisdiction and the competency of the 27-count charge of conspiracy, retention of proceeds of a criminal conduct and corruptly conferring benefit on account of public action leveled against them by the anti-graft commission.

The prosecution’s counsel, Mr. Rotimi Jacobs, SAN, told the court that he had an accident, hence he could not participate in the proceedings to hear the applications, he, therefore, asked the court for short adjournment.

Dr. Abiodun Layonu, SAN, who represented Babalakin urged the court to allow the defence to adopt their written addresses in support of the applications. The judge adjourned the matter till March 14.