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Money Laundering: Court Releases Babalakin Travelling Document

A Lagos High Court sitting in Ikeja on Thursday ordered the Economic and Financial Crimes Commission (EFCC) to release the travelling documents of the Chairman, … Continue reading Money Laundering: Court Releases Babalakin Travelling Document


The Chairman of Bi-Courtney Nigeria Limited, Wale Babalakin

A Lagos High Court sitting in Ikeja on Thursday ordered the Economic and Financial Crimes Commission (EFCC) to release the travelling documents of the Chairman, Bi-Courtney Highway Services, Wale Babalakin.

The Chairman of Bi-Courtney Nigeria Limited, Wale Babalakin

Justice Adeniyi Onigbanjo gave the order in a ruling on application by the Bi-Courtney boss seeking permission to travel to South Africa to treat hypertension and other unspecified ailments.

The judge however ordered that Mr Babalakin must return the passports to the custody of the EFCC before 27 March a date already set aside by the court to hear the applications by the Bi-Courtney Boss seeking to quash the charges against him.

The Counsel to the EFCC, Rotimi Jacobs, did not oppose the application for the release of the travel document; he merely urged the court to ensure that the defendant was not being allowed to travel to a country where he could easily abscond from trial.

Mr Babalakin and his co-defendants are facing charges of fraudulently aiding convicted former Delta State Governor, James Ibori to transfer N4.7 billion to Mauritius between May and December 2006.

Facing the 27 counts along with Mr Babalakin are Alex Okoh and three firms, Stabilini Visioni Limited, Bi-Courtney Limited and Renix Nigeria Limited.

The second defendant, Mr Okoh is also said to have a similar application pending before the court for the release of his passports to travel abroad. It’s not certain yet when he will be arguing his application.