EFCC finally arrests Wale Babalaki

Reports say that the Economic and Financial Crimes Commission (EFCC), today arrested Bi-Courtney Chairman, Wale Babalakin, shortly after he left the Lagos University Teaching Hospital (LUTH).

He could not be declared wanted, after going into hiding for being ill just to avoid prosecution over allegations that he laundered billions of Naira on behalf of the jailed former Governor of Delta State, James Ibori.

Babalakin had checked into a ward in LUTH claiming he was ill.

The move was seen as a calculated attempt to evade arrest after a warrant was secured to that effect.

In an effort to ensure the businessman does not travel out of the country, the EFCC immediately sent its operatives to keep watch at the hospital.

He is currently being detained at the Ikoyi offices of the agency where he might be granted another “administrative bail” pending his arraignment on January 17 2013.

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