Chairman of BiCourtney group of companies, Wale Babalakin, was today, arraigned by the Economic and Financial Crimes Commission (EFCC) at the Lagos High Court Ikeja, Lagos.
He was declared wanted by the anti-graft agency yesterday.
Babalakin arrived the court premises today and walked straight into the courtroom where he was arraigned alongside Alex Okoh for money laundering relating to a N4.7 billion.
He was granted bail on self recognition as the case was later adjourned until February 25 2013.
However, the BiCourtney boss, Vanguard gathered had approached the Court of Appeal in Lagos to challenge his arraignment.