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Tag: Babalakin

  • Babalakin’s case file assigned to new judge

    Babalakin’s case file assigned to new judge

    The trial of the Chairman of Bi-Courtney Nigeria Limited, Chief Olawale Babalakin, at a Lagos High Court, Ikeja, could not hold yesterday because of the transfer of the trial judge, Justice Adeniyi Onigbanjo.

    The judge had been moved from the Criminal Division of the Lagos High Court, Ikeja, to the Commercial Division.

    Babalakin’s case file, it was learnt, had been forwarded to a new judge, Justice Lawal Akapo.

    It is, however, not clear whether the matter, which was partly being heard before Justice Onigbanjo, will start de novo before the new trial judge.

    At last hearing of the matter, Justice Onigbanjo adjourned for ruling on the “no-case submission” by Babalakin and four other defendants.

  • Court rules on Babalakin’s applications September 23

    Court rules on Babalakin’s applications September 23

    Justice Adeniyi Onigbanjo of a Lagos High Court, Ikeja on Tuesday adjourned ruling on the applications filed by the Chairman of Bi-Courtney Limited, Chief Olawale Babalakin and co-defendants seeking to quash charges preferred against them by the Economic and Financial Crimes Commission (EFCC) till September 23.

    The EFCC had arraigned Babalakin alongside an associate, Alex Okoh for allegedly transferring N4.7 billion on behalf of convicted former Delta State Governor, James Ibori.

    They were charged to court alongside their companies, Stabilini Visioni Limited, Bi-Courtney Limited and Renix Nigeria Limited.

    Justice Onigbanjo told the prosecution and defendants at the resumption of the trial on Tuesday that the ruling on the four separate applications filed by Babalakin and other defendants were not ready.

    Onigbanjo told the two parties that he intend to deliver the ruling on all the applications filed by the defendants on the same day and consequently adjourned the matter.

    Earlier, Babalakin’s counsel, Dr. Abiodun Layonu (SAN), had apologised for his client’s inability to appear in the dock.

    Layonu told the court that his client who was within the court premises has health challenges.

    Babalakin, according to him is on crutches and the development has hindered his ability to move around.

    “It is extremely painful for him to move. At the moment, he is on crutches, My Lord,” Layonu said

  • Babalakin, Okoh want court to quash ‘fraud’ charges

    Babalakin, Okoh want court to quash ‘fraud’ charges

    The Chairman of Bi-Courtney Limited, Chief Olawale Babalakin and his co-defendants on Wednesday asked a Lagos High Court, Ikeja to quash the charges preferred against them by the Economic and Financial Crimes Commission.

    The defendants made the request in separate applications filed by their counsel before the court presided by Justice Adeniyi Onigbanjo.

    Chief Babalakin is standing trial for allegedly transferring N4.7 billion on behalf of former Delta State Governor, James Ibori.

    He is being prosecuted alongside Alex Okoh and their companies – Stabilini Visioni Limited, Bi-Courtney Limited and Renix Nigeria Limited.

    They 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.

    At the resumed trial of the matter, the defendants told the court that the EFCC had no valid fiat to prosecute them before a state high court.

    Chief Lateef Fagbemi (SAN), the counsel to Babalakin told the court that the EFCC had no power to institute criminal proceedings at a state high court unless it had a valid fiat duly issued to them by the state’s attorney-general.

    Fagbemi pointed out that Babalakin and co-defendants were charged to court under a fiat issued on May 12, 2004 under the Criminal Code Laws of Lagos State 2003 and Criminal Procedure Laws of Lagos State 2003.

    “The fiat given in 2004 does not qualify as a fiat any longer because both laws under which it was made have been repealed,” Fagbemi said.

    He cited a ruling delivered on April 29 this year by Justice Samuel Candide-Johnson of a Lagos State High Court, Igbosere in a case involving FRN and Olayinka Sanni.

    He argued that the judge in the ruling held that the said 2004 fiat was no longer valid as a result of the repealed laws and the case was dismissed.

    Okoh’s counsel, Mr. Tayo Oyetibo (SAN), also urged the court to quash the charges against the defendants on similar grounds.

    “Since the fiat has been nullified, the defendants have the right to insist that they cannot be prosecuted with it and I urge the court to quash the charges against them,” he posited.

  • Court to hear Babalakin’s application June 5

    Court to hear Babalakin’s application June 5

    Justice Adeniyi Onigbanjo of a High Court, Ikeja, Lagos State, has fixed June 5 for hearing an application filed by Dr. Wale Babalakin (SAN) and co-defendant Alex Okoh in which they are asking the court to quash the N4.7 billion money laundering charge preferred against them by the Economic and Financial Crimes Commission (EFCC).

    The court dismissed a pending application filed by Dr Babalakin’s firm, Bi-Courtney Services Limited, seeking to quash the N4.7billion fraud charge the EFCC filed against it.

    Babalakin, companies, Stabilini Visioni Limited, Bi-Courtney Limited, Renix Nigeria Limited and Alex Okoh, are facing a 27-count charge of criminal conspiracy and laundering of N4.7 billion.

    The EFCC alleged that the accused laundered the money on behalf of convicted former Delta State Governor James Ibori.

    Ruling on Bi-Courtney’s application yesterday, Justice Onigbanjo dismissed the submission of the defendant that the continuation of the trial was an abuse of the court process because of an application pending at the Appeal Court on the same matter.

     

  • Money laundering: Court to hear Babalakin’s applications June 5

    Money laundering: Court to hear Babalakin’s applications June 5

    Justice Adeniyi Onigbanjo of a Lagos High Court, Ikeja, has fixed June 5 for hearing of the applications filed by the Chairman of the Bi-Courtney Limited, Dr. Wale Babalakin (SAN) and co-defendant, Alex Okoh asking the court to quash the N4.7 billion money laundering charge preferred against them by the Economic and Financial Crimes Commission.

    The court also dismissed a pending application filed by Bi-Courtney Services Limited, seeking to quash the charge instituted against it by the EFCC.

    Babalakin, his companies – Stabilini Visioni Limited, Bi-Courtney Limited, Renix Nigeria Limited and Alex Okoh are facing a 27-court bordering on criminal conspiracy and money laundering to the tune of N4.7 billion.

    The EFCC had alleged that they laundered the money on behalf of the former Delta State governor, Chief James Ibori.

    Ruling on Bi-Courtney’s application on Tuesday, Justice Onigbanjo dismissed the submission of the defendant that the continuation of the trial was an abuse of court process because of an application pending at the appeal court on the matter.

    The trial judge held that continuing with the trial does not in anyway constitute an abuse of court process as argued by the applicant.

    He said mere filing of an application of appeal at the Court of Appeal is not enough ground to strike out or discontinue a charge before a lower court.

    The judge also held that it would amount to irreparable loss if he allowed the application to quash the charges and the appeal fails.

    “I think the balance of convenience tilts towards refusing this application. The application failed and is hereby refused,” he said.

     

  • Court okays Babalakin’s foreign treatment

    Court okays Babalakin’s foreign treatment

    Justice Adeniyi Onigbanjo of a Lagos High Court, Ikeja, on Thursday said the embattled Chairman of Bi-Courtney Limited, Wale Babalakin, can attend to his failing health outside the country.

    The Economic and Financial Crimes Commission had arraigned Babalakin and a banker, Alex Okoh before the court for allegedly aiding the convicted former Delta State Governor, James Ibori to steal N4.7 billion from government treasury.

    Also listed as defendants in the suit are their companies – Bi-Courtney Limited, Stabilini Visioni Limited and Renix Nigeria Limited.

    Babalakin had on Monday, urged the court to allow him to sit at the bar or adjacent the dock as a Senior Advocate of Nigeria (SAN), but the application was turned down by Onigbanjo, who insisted that Babalakin like all other defendants must be inside the dock.

    Counsel to Babalakin, Lateef Fagbemi (SAN), had earlier urged the court to compel the EFCC to release his client’s international passport so that he can travel to attend to his health.

    Fagbemi in the application informed the court that Babalakin was hypertensive and needed treatment at a South African hospital.

    Although the counsel to EFCC, Rotimi Jacobs, (SAN), did not oppose the application, he urged the court to ensure that Babalakin returned to the country by the next adjourned date for commencement of trial.

    In his ruling, Onigbanjo ordered the commission to release the international passport to Babalakin so that he can go and treat himself.

    He also ordered that the passport must be returned to the EFCC before the next trial date and adjourned the matter to March 27.

  • Court rejects preferential treatment for Babalakin

    Court rejects preferential treatment for Babalakin

    An Ikeja High Court, Lagos, on Monday rejected the request by the embattled Bi- Courtney Chairman, Dr. Wale Babalakin to be allowed to sit in the bar or adjacent the dock as a Senior Advocate of Nigeria (SAN).

    The Economic and Financial Crimes Commission on January 17 arraigned Babalakin and four others, before Justice Adeniyi Onigbanjo, for allegedly conspiring and laundering N4.7 billion for the former governor of Delta State, James Ibori.

    Standing trial on a 27 count charge with Babalakin are one Alex Okoh; construction giants, Stabilini Visioni Limited, Bi-Courtney Limited, and Renix Nigeria Limited.

    Counsel to EFCC, Rotimi Jacobs (SAN), had told the court that the defendants between May and December 2006 conspired to commit felony to wit: corruptly confering benefit on account of public action contrary to Section 98A (1) (a) of the Criminal Code Law, Cap. C17, Laws of Lagos State 2003.

    At the resumed hearing on Monday, Babalakin, who was granted bail on self recognition, prayed the court to allow him sit outside the dock since he is an inner member of the bar.

    Lead counsel to the defendants, Lateef Fagbemi (SAN), who sought the relief prior to the commencement of the case, cited Section 210 of the Administration of Criminal Justice Law of Lagos State, 2011.

    He argued that Babalakin, as a SAN, “a lawyer of repute”, and under the law, as an accused may be allowed to “sit adjacent to the dock.”

    His submission was however countered by Jacobs, who insisted that the court must be careful, especially because the action will amount to an injustice against the second defendant, Okoh.

    Jacobs said, “We have to be careful, justice must be seen to have been done, not on the grounds of status of the defendant. If that application is granted, what about the other defendant, who is a banker.

    “The inner bar or the outer bar cannot be adjacent to the dock. That section only applies to when there is no dock. In construing the law, what is most important is justice.”

    In his ruling on the preferential treatment to Babalakin, Onigbanjo declined the request and insisted that he could only allow the defendant to be seated inside the dock.

    “Section 210 of the ACJ only applies to a witness on summons. It does not apply to this situation. The defendants have taken their plea. They are not here on summons,” said Onigbanjo.

    Monday’s proceedings were scheduled for hearing on three applications filed by the defendants, each of them represented by a team of defence lawyers.

     

  • AMCON takes possession of Babalakin’s property

    AMCON takes possession of Babalakin’s property

    •Over alleged N13.5b debt

    A detachment of armed policemen and bailiffs of the Federal High Court, Lagos on Friday evening, took possession of and sealed off a high rise building on 43A, Afribank Street, Victoria Island, Lagos owned by businessman-lawyer, Wale Babalakin.

    Their action according to a statement from the Asset Management Corporation of Nigeria (AMCON), was in execution of interim orders granted by Justice Chukwujekwu Aneke against Roygate Properties Limited, believed to be owned by Babalakin.

    The orders were sequel to an ex-parte application filed by the AMCON in a suit marked: FHC/L/CS/1501/2012. Copies of the orders made on February 5 were conspicuously pasted on the gates of the VI house.

    Justice Aneke granted AMCON “interim possession of the property at 43A” Afribank Street, pursuant to a tripartite legal mortgage registered on October 14, 2010 between Roygate (the borrower) , Stabilini Visioni Limited (surety/mortgagor) and Guaranty Trust Bank (the lender.)

    The court also granted AMCON similar possession over properties at Plots 270 and 273 Trans Amadi Layout, Port Harcourt, Rivers State.

    The court restrained Roygate, its directors, subsidiaries and sister companies from transferring or dealing with any of its funds in 20 banks listed in the application, or anywhere else up to the N13.5billion allegedly owed by the company.

    Justice Aneke restrained the banks from allowing Roygate “operate any bank accounts” held by it in the banks.

    The court ordered the banks to serve on AMCON lawyers, within seven days of the service of the order on them, “an affidavit disclosing the respondent’s (Roygate’s) balance on accounts held with the said banks jointly and severally as at the date of the order.”

    Justice Aneke also ordered the Nigeria Police Force to assist in the enforcement of the orders, which he held, should subsist pending the determination of the substantive suit.

    The Hon. Justices Aneke set Feb 19 2013 as the return date’

    Just few months ago, similar order was given to AMCON to take possession of some property and assets owned by one of its debtors, Tonique Oil Services Limited.

    The Corporation executed the said orders on Tonique Oil’s premises in Ikoyi and Gbagada, Lagos state with the assistance of law enforcement agents, lawyers and court bailiffs.

    AMCON had previously reiterated its commitment to ensure the resolution of all Non-Performing Loans purchased in accordance with the AMCON Act.

     

  • EFCC arraigns Babalakin, others

    EFCC arraigns Babalakin, others

    Granted bail on self recognition

    The Economic and Financial Crimes Commission on Thursday arraigned the chairman of Bi-Courtney Limited, Chief Olawale Babalakin and four others, before a Lagos High Court, Ikeja, for allegedly conspiring and laundering N4.7 billion for the former governor of Delta State, James Ibori.

    However, the court presided by Justice Adeniyi Onigbanjo granted him and the second defendant, Mr. Alex Okoh, bail on self recognition.

    Babalakin was arraigned along with his company, Bi-Courtney Limited which is the 4th defendant in the suit.

    The other defendants are the construction giant, Stabilini Visioni Limited and Renix Nigeria Limited are which 3rd and 5th defendants respectively.

    They were arraigned on a 27- count charge bothering on conspiracy to commit felony to wit: corruptly conferring benefit on account of public action contrary to section 98A (1) (a) of the Criminal Code Law, Cap. C17, Laws of Lagos State 2003.

    The offence was committed between May and December 2006.

    Babalakin and Okoh had pleaded not guilty to each of the 27 charges preferred against them by the EFCC.

    After the plea of the defendants had been taken, counsel to Babalakin, Mr. Wale Akoni (SAN), who led 10 other lawyers told the court that they have several pending applications before the court for different prayers.

    Akoni, while urging the court strike out an application dated January 17, 2013, prayed the court to consider their application dated November 29, 2012 and grant his client bail pending the determination of the substantive suit.

    He said the bail application was supported by a 14 paragraph affidavit deposed to by Dr. Abiodun Layonu and accompaigned by a written address.

    The counsel asked the court to consider paragraph 3(1) (i-ix) of the affidavit in support of the application and prayed the court to grant bail to Babalakin on self recognition.

     

  • EFCC to arraign Babalakin, others Thursday

    EFCC to arraign Babalakin, others Thursday

    The Economic and Financial Crimes Commission will on Thursday arraign the Chairman of Bi-Courtney Limited, Wale Babalakin for an alleged N4.7 billion fraud.

    The News Agency of Nigeria reports that Babalakin was charged before Justice Adeniyi Onigbanjo of a Lagos High Court in Ikeja.

    He was charged alongside Alex Okoh, Stabilini Visioni Limited, Bi-Courtney Limited and Renix Nigeria Limited for fraudulently transferring N4.7 billion on behalf of convicted former governor of Delta State, James Ibori.

    Efforts to arraign the defendants were stalled on November 29 and December 12 last year after Babalakin’s counsel told the court that the first defendant was on admission at the Lagos University Teaching Hospital (LUTH).

    EFCC spokesperson, Mr. Wilson Uwujaren, told NAN on Wednesday that Babalakin has since been discharged from LUTH and was fit to take his plea.

    “We have a court date tomorrow and it is for the arraignment of Babalakin and the other defendants,” Uwujaren said.

    The EFCC had alleged that the defendants fraudulently assisted Ibori to transfer various sums, through various parties, to Erin Aviation account in Mauritius for the purchase of a Challenger Jet aircraft.

    The defendants 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.

    EFCC counsel, Mr. Rotimi Jacobs (SAN), had alleged– when the case came up last– that Babalakin was trying to flee the country to evade arraignment.

    The defendant’s counsel, Chief Bolaji Ayorinde (SAN) and Dr. Abiodun Layolu (SAN), had, however, countered the claim, describing it as “a wild allegation.”