Nigeria - Anti Graft Agency EFCC Finally Arrest Businessman Wale Babalakin

The Nigerian Economic and Financial Crimes Commission today arrested fugitive businessman, Wale Babalakin shortly after he left the Lagos University Teaching Hospital (LUTH) where he had sought refuge on the pretext illness.

Mr. Babalakin is currently detained at the Ikoyi offices of the agency where sources said he might be granted another "administrative bail" pending his arraignment before a Lagos judge on January 17 2013.


A federal high court judge had earlier tossed the application filed by embattled businessman, Wale Babalakin, seeking to restrain the Economic and and Financial Commission from arresting and prosecuting him for money laundering.

Justice Ibrahim Buba who was once pilloried for granting a permanent injunction that prevented the Economic and Financial Commission (EFCC) from prosecuting former governor of Rivers state, Peter Odili, today said his court could not stop the EFCC from arresting Babalakin to face crimes of money laundering.