The Economic and Financial Crimes Commission (EFCC) yesterday asked a Federal High Court in Ikeja to order the chairman of Bi-Courtney Limited, Dr Wale Babalakin and his co-defendants to enter their plea in a 27 count charge of money laundering its file again them.The EFCC made this demand while opposing an application filed by Babalakin and his companies, challenging the jurisdiction of the court and the competency of the charge against them.
Babalakin (SAN), Stabilini Vision Limited, Bi-Courtney Limited, Alex Okoh, and his company Renix Nigeria Limited are standing trial before justice Lawal-Akapo on an alleged N4.7 billion fraud brought against them by the commission .
The EFCC alleged that 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.
The 27 count charge borders on conspiracy, retention of proceeds of criminal conduct and corruptly conferring benefit on account of public action.
At the resumed hearing of the matter on Tuesday, the counsel to the anti-graft agency, Rotimi Jacobs (SAN) continue his argument from where he stopped on Monday, submitting that the power of the commission to prosecute is backed by the constitution.
The lawyer also told Justice Lateef Lawal-Akapo that it is trite law that the schedule to the Constitution is part of the Constitution; it has the same force, it has the same competence and same strength as the Constitution itself.” Jacobs further argued that Ibori, in the capacity of a governor was a public officer.