EFCC Plans To Appeal Acquittal Of Wale Babalakin Over N4.7 Billion Fraud

byWatson Williams -
0
The Economic and Financial Crimes Commission has on Monday released a statement saying it will appeal a ruling of a Lagos High Court, presided over by Justice Lateef Lawal-Akapo, that acquitted Chairman, Bi-Courtney, Dr. Wale Babalakin (SAN), and four others of 27 counts of fraud, conspiracy, and retention of proceeds of criminal conduct brought against them by the EFCC.

The Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, said in the statement that the commission would take the requisite steps, including an appeal of the verdict, after a careful study of the ruling.
They were freed by a Lagos State High Court on Monday in the fraud and money laundering suit instituted against them by the Economic and Financial Crimes Commission (EFCC).

Presiding judge in the N4.7 billion naira alleged money-laundering suit, Justice Lateef Lawal-Akapo, in his ruling said the EFCC did not provide sufficient evidence against the defendants and therefore discharged them.

The EFCC had alleged in a 27-count charge sheet that they conspired and helped Chief James Ibori, a former Governor of Delta State, launder about N4.7 billion naira belonging to the Delta State government, while he was governor of the state.

Ibori is serving out his prison sentence in London, United Kingdom, following his conviction for stealing and laundering state funds.
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