According to multiple traders, Babe collected goods over a four-month period but repeatedly postponed payments, citing a sluggish market and difficulties selling the merchandise. Despite giving several assurances, he is reported to have failed to settle his debts on the date he had promised various large importers. Sources also claim he used two different names when purchasing goods from different suppliers.
Babe later reportedly declared insolvency on the same day his payments were due, a step that stunned many in the local market, given his long-standing reputation for financial strength. Unlike in earlier cases, however, the courts took a harder line. He was immediately ordered into custody at Mile 2 prison.
Babe is expected to reappear in court on December 17 2025.
