Following the acquittal of the Chairman of Bi-Courtney Limited, Dr. Wale Babalakin, and four others of the N4.7 billion fraud charges brought against them by the Economic and Financial Crimes Commission (EFCC), the anti-graft agency has vowed to appeal the judgement.
In a statement released after the judgement, the EFCC said:
The attention of the Economic and Financial Crimes Commission has been drawn to the ruling today by a Lagos High Court, presided over by Justice Lateef Lawal-Akapo which discharged and acquitted Wale Babalakin, a Senior Advocate of Nigeria and three others of a 27-count charge of fraud, conspiracy, and retention of proceeds of criminal conduct brought against them by the Commission.
The EFCC will avail itself of all available options, including the right of appeal, after careful study of the ruling.
Wilson Uwujaren Head, Media & Publicity