The Chairman of Bi-Courtney Limited, Wale Babalakin, has been cleared of fraud charges by a Lagos High Court.
Lagos court clears Bi-Courtney boss of N4.7bn fraud
Babalakin, who was alleged to have committed fraud to the tune of N4.7 billion, was discharged on Monday, February 23.
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![NAHCON officials with Imo State Governor, Hope Uzodinma holding the award presented to him. [NAN]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "NAHCON officials with Imo State Governor, Hope Uzodinma holding the award presented to him. [NAN]")
The case against Babalakin and co-defendants, Alex Okoh, Stabilini Vision Limited, Bi-Courtney Limited and Renix Nigeria Limited, was dismissed by Justice Lateef Lawal-Akapo for want of competence.
The defendants had been apprehended by the Economic and Financial Crimes Commission(EFCC) on a 27-count charge bordering on conspiracy, retention of proceeds of criminal conduct and corruptly conferring benefit on account of public action.
Babalakin had also been accused of assisting imprisoned Ex-Governor of Delta State, James Ibori, to embezzle public funds.
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