Chairman, Bi-Courtney Highway Services, Wale Babalakin, on Friday lost a bid to stop his arraignment for allegedly laundering about N4.7bn on behalf of the convicted former governor of Delta State, James Ibori, in 2006.
A Federal High Court, Lagos, presided over by Justice Mohammed Idris, struck out a suit instituted by Babalakin on Nov. 29, 2012, to stop the Economic and Financial Crimes Commission from arraigning him for the alleged offence.
Idris struck out the suit for its failure to comply with Order 35 Rule 4 of the Federal High Court Civil Procedure Rules, which require the applicant to depose to an affidavit after serving the court papers on the parties in the suit.
The judge held that failure to depose to such affidavit and file same before the court had robbed the court of its jurisdiction to entertain the matter.
The court vacated the order it earlier granted the applicant permitting him to institute the prohibition suit against the EFCC and subsequently awarded N5,000 cost against the applicant.
EFCC had charged Babalakin along with Alex Okon and three other firms with 27 counts before Justice Adeniyi Onigbanjo of a Lagos High Court, Ikeja.
The firms are Stabilini Visioni Ltd., Bi-Courtney Ltd and Renix Nigeria Ltd.
EFCC had been unable to arraign Babalakin due to his absence from court during its two previous proceedings.