N4.7b fraud: Court adjourns Babalakin’s trial again

An Ikeja High Court in Lagos on Monday adjourned the trial of the Chairman of Bi-Courtney Limited, Wale Babalakin till February 17 to enable the defence lawyers to regularise their applications.
Babalakin is being prosecuted for an alleged N4.7 billion fraud before Justice Lateef Lawal-Akapo.
The Economic and Financial Crimes Commission had charged him for allegedly transferring monies on behalf of convicted former Delta State Governor, James Ibori.
He is standing trial alongside Alex Okoh and their companies – Stabilini Visioni Limited, Bi-Courtney Limited and Renix Nigeria Limited.
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.
During Monday’s proceedings, the judge informed the parties that he needed time to examine some of the processes filed by the defence lawyers.
He said: “Apart from Roland Otaru (counsel to the third defendant), all the other applications were brought to my attention about 20 minutes ago.
“In a matter of this nature, it is always good to study the processes and ask pertinent questions as the matter goes along.
“What I will suggest is that counsel to the defendants sit and identify all these processes and their facts to be sure that all the processes are filed.”