Lagos Court Frees Babalakin over N4.7billion Fraud

A Lagos state high court has acquitted the Chairman of Bi-Courtney Limited Mr Wale Babalakin, over a N4.7billion fraud allegations brought against him by the Economic and Financial Crimes Commission (EFCC). He was acquitted yesterday.

Mr Babablakin alongside his aide, Alex Okoh, were arrested in 2012 by the EFCC over accusations that the men laundered N4.7billion from the Delta state government coffers on behalf of James Ibori, the convicted ex-governor of Delta state.