Lagos High Court, Ikeja has removed the N4.7 billion
fraud suit instituted by the Economic and Financial Crimes Commission
against Wale Babalakin, a Senior Advocate of Nigeria and acquitted him.
The EFCC had charged Babalakin, Alex Okoh and their companies on a 27 count charge of fraud, conspiracy, and retention of proceeds of criminal conduct.
Justice Lateef Lawal-Akapo read the ruling and revealed that the EFCC
had not succeeded to maintain the allegations against the defendants.
“The amended information filed May 7, 2013, is incurably bad and ineffective,” the judge held.
Details later…
Dr. Wale Babalakin is a Nigerian businessman and a Lawyer. He is also a Senior Advocate of Nigeria and a recipient of the Nigerian national honour of Officer of the Federal Republic in 2007.
The EFCC had charged Babalakin, Alex Okoh and their companies on a 27 count charge of fraud, conspiracy, and retention of proceeds of criminal conduct.
Babalakin
“The amended information filed May 7, 2013, is incurably bad and ineffective,” the judge held.
Details later…
Dr. Wale Babalakin is a Nigerian businessman and a Lawyer. He is also a Senior Advocate of Nigeria and a recipient of the Nigerian national honour of Officer of the Federal Republic in 2007.
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