The Economic and Financial Crimes Commission (EFCC) last week arrested and briefly detained Wale Babalakin, a Lagos-based businessman, on charges of facilitating money laundering by former Governor James Ibori of Delta State.
The EFCC detained Mr. Babalakin overnight last Saturday and subsequently granted him administrative bail.
A source close to suspect, a lawyer whose company owns the new wing of the Ikeja domestic airport,said Mr. Babalakin was “shaken when the EFCC came for him,” adding that the businessman quickly contacted his political sponsors to arrange his “administrative” release.
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