Court Dismisses N4.7bn Money Laundering Charges Against Babalakin, Others

Court Dismisses N4.7bn Money Laundering Charges Against Babalakin, Others

Justice Lateef Lawal-Akapo of the Lagos High Court sitting in Ikeja yesterday quash the N4.7 billion fraud charge filed against the Chairman of Bi-courtney Limited, Wale Babalakin (SAN) and four other by the Economic and Financial Crimes Commission (EFCC).

Justice Lawal-Akapo while a ruling on preliminary objection challenging the the jurisdiction of the court and the competency of the charge against them held that the charge is incurably bad and defective.

Babalakin, Stabilini Vision Limited, Bi-Courtney Limited, Alex Okoh, and his company Renix Nigeria Limited are standing trial on a 27 count charge borders on conspiracy, retention of proceeds of criminal conduct and corruptly conferring benefit on an account of a public action. 

Specifically the EFCC accused Babalakin and his co-defendants fraudulently assisted convicted former Delta State Governor, James Ibori to transfer huge sums of money through various parties to Erin Aviation account in Mauritius for the purchase of a plane.

They pleaded not guilty to the charge.

The defendants had through their lawyers, instituted separate applications, praying the court to quash the N4.7bn charges, with a position that the EFCC, as a federal agency, lacked valid fiat to prosecute them in a state high court.

The defendants through their counsel, Dr. Biodun Layonu (SAN), Tayo Oyetibo (SAN), Roland Otaru (SAN), Dr. Joseph Nwobike (SAN) and Oladapo Adeosun had also argued that the state High Court has no jurisdiction to hear offences brought under the EFCC Act.

EFCC through its lawyer, Rotimi Jacobs (SAN), while opposing the applications of the defendants told the court it has constitutional right to prosecute the defendants before a state high court.

Jacob also contended that Section 286 of the Constitution permits state high court to entertain federal offences.

On the issue of general fiat issued by the Attorney General of the Federation, Jacob said the only person who can complain about not getting the said fiat is the Lagos State Attorney General himself and not any of the party before the court.

While ruling on the application on Monday, Justice Lawal-Akapo identified four issues for determination, they are:  

Whether the EFCC can prosecute a defendants without fiat, whether James Ibori is a public officer, whether two prosecuting authorities can jointly sign a charge and whether the charge on the surface contains sufficient information.

The judge resolved the first issue in favour of the EFCC holding that the commission can initial criminal proceeding against anyone accused of economic or financial crime without obtaining a fiat from the federal or state Attorney General.

On the second issue, the court held that Ibori who was alleged to have corruptly conferred the N4.7billion on Babalakin is not a public officer as stated in the charge.

On the issue of prosecuting authorities jointly signing a charge, the judge said that it not known to law for two authorities to jointly signed a charge and moreover the prosecutorial power of the Attorney General of the Federation can not be share with any one.

The judge further held that the official of the EFCC A. M. Yusuf who signed the charge failed to disclosed his relationship with the AGF.

On the last issue, Justice Lawal-Akapo ruled that the EFCC  had not disclosed enough information to sustain the allegation made against Babalakin and his co-defendants.

The judge held that the EFCC for instance did not disclose the particulars of the offences allegedly committed, when the offences took place. 

The judge thereby discharged Babalakin and his co defendants and threw out the matter which began in 2012 before Justice Adeniyi Onigbanjo, who was later transferred out of the criminal division of the Lagos High Court.