These are not the best of times for Dr. Olawale Bolanle Babalakin (SAN) because he has been stopped by a court order from withdrawing money from his five companies accounts; (Bi-Courtney Limited, Chartered Investment Limited, Resort International Limited and Roygate Properties Limited) since September 22, 2014.
He got into trouble when Justice Okon Abang granted an ex-parte order freezing his companies’ bank accounts following a suit with number FHC/L/CS/1361/2014, brought to the court by Assets Management Corporation of Nigeria (AMCON) over N54 billion debt.
Besides, Babalakin’s effort to vacate the order has also failed as the trial judge, Justice Muhammed Idris of the Federal High Court, Lagos dismissed his case for lack of merit.