Bi-Courtney loses application to quash Babalakin's N4.7bn fraud charges





Bi-Courtney Limited, a firm that was charged along with its Chairman, Wale Babalakin, on Tuesday lost an application seeking to quash the N4.7bn fraud charges instituted against them and three others by the Economic and Financial Crimes Commission.

Justice Adeniyi Onigbanjo, presiding over the case at the Lagos High Court, Ikeja, dismissed the application and also fixed May 28, for hearing of two separate similar applications filed by Babalakin and another co-accused, Alex Okoh.

Dismissing Bi-Courtney’s application in a ruling on Tuesday, Onigbanjo said the company would not suffer any “injustice or irreparable damages” by refusing to grant its prayers.

The judge said, in the ruling which was delivered in Babalakin’s absence, “I think the balance of convenience tilts towards refusing this application.

“The application failed and is hereby refused”.

Babalakin’s counsel, Chief Lateef Fagbemi (SAN), had said Babalakin was unable to be present in court because he missed his flight from Abuja.
EFCC had on January 17, 2013, arraigned Babalakin, Okoh, Bi-Courtney and their their co-accused on 27 counts of allegedly aiding convicted former Delta State Governor, James Ibori, to transfer N4.7bn to Mauritius between May and December 2006.

Other accused are two other firms, Stabilini Visioni Limited and Renix Nigeria Limited.
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