Babalele is son-in-law to Alhaji Atiku Abubakar, while Giwa-Osagie is lawyer to the former Vice-President.
The Economic and Financial Crimes Commission accused the two men of laundering money during the 2019 general elections, in which Atiku was a presidential candidate on the platform of the Peoples Democratic Party.
While Babalele was accused of laundering $140,000; Giwa-Osagie was charged alongside his brother, Erhunse Giwa-Osagie, with the offence of laundering $2m.
The men were arraigned separately August last year before Justice Nicholas Oweibo, who sat as a vacation judge.
Babalele’s case was later transferred to Justice C.J. Aneke, while the Giwa-Osagie brothers’ case was re-assigned to Justice Chuka Obiozor.
At the instance of the defence counsel, Messrs Norrison Quakers (SAN) and Ahmed Raji (SAN), the Chief Judge of the Federal High Court ordered the transfer of Babalele’s case to Justice Aneke.
The defence counsel later prayed Justice Aneke to consolidate the two cases, so that the defendants could be jointly tried.
But the counsel for the EFCC, Mr Rotimi Oyedepo, objected to the transfer of Babalele’s case from Justice Obiozor to Justice Aneke and also opposed the application to consolidate the two cases.
Ruling on Monday, Justice Aneke said since there was no provision in the Administration of Criminal Justice Act 2015, empowering him to turn down a case assigned to him by the Chief Judge, he could not reject Babalele’s case.
The judge, however, said he could also not consolidate the two matters because there was no legal provision for the consolidation of criminal cases.
“The court will try both charges separately,” Justice Aneke held.
Meanwhile, the judge adjourned the cases till April 2, saying he was not sure whether he would be transferred from Lagos to another state.
Justice Aneke explained that the Chief Judge of the Federal High Court had given instruction to judges not to open new trials pending the conclusion of the arrangement for judges’ transfer.
The EFCC accused Babalele of “procuring Bashir Mohammed to make a cash payment of $140,000 without going through any financial institution.”