The
Chairman of Bi-Courtney Limited, Dr. Wale Babalakin, was yesterday
granted bail on self recognisance, when his trial for allegedly
laundering N2.8b on behalf of the former governor of Delta State, James
Ibori, commenced at an Ikeja High Court, in Lagos.
The
commencement of the trial contradicted the claims by the Economic and
Financial Crimes Commission (EFCC), on Wednesday, that the defendant had
gone underground to avoid prosecution, an allegation that was
immediately refuted by Babalakin, through his spokesman, Dipo Kehinde.
Babalakin,
who was charged alongside four others, including Alex Okoh, Bi-Courtney
Limited, Stabilini Visinoni Limited and Renix Nigeria Limited, came to
the court on his own, unaccompanied, around 9am, after which the trial
commenced at 11am.
Both Babalakin and Okoh pleaded not guilty to the 27-count charge preferred against them.
In
reaching the decision to grant bail on self-recognisance, Justice
Adeniyi Onigbanjo took note of the submission of EFCC’s counsel, Rotimi
Jacobs, that Babalakin had abided by all the terms of his administrative
bail and had voluntarily presented himself for trial.
The
judge further said in line the presumed innocence of the defendant as
well as his antecedents as the Chairman of Committee of Pro-Chancellors
of all Federal Universities, Pro-Chancellor of
the University of
Maiduguri and a Senior Advocate of Nigeria in admitting him to bail.
He,
however, ordered that both Babalakin and Okoh, who was also granted
bail on self-recognisance, should deposit their international passports
with the EFCC, while adjourning hearing till February 25.
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