Chairman of Bi-Courtney, Dr. Olawale Babalakin and four others laundered more than N3.4bn for former Delta Governor James Ibori to purchase of an aircraft, the Economic and Financial Crimes Commission (EFCC) has alleged.
Raising a 27-count charge against Babalakin and Stabilini Vision Limited, Bi-Courtney Limited, Alex Okoh and Renix Nigeria Limited at the High Court of Lagos State, Ikeja Division, EFCC accused them of siphoning $11.3m abroad for Ibori through Erin Aviation Account in Mauritius. The charge sheet, dated 21st November, was filed by A.M. Yusuf Esq. on behalf of EFCC and the Attorney-General of the Federation (AGF).
While EFCC has maintained that the lawyer-entrepreneur has a case to answer, the suit is perceived by the public as a desperate attempt to silent Babalakin, whose concession contract for the Ibadan-Lagos Expressway was revoked only on Monday — three days before the charge was filed.
However, Huhuonline can confirm that Babalakin already called EFCC on Thursday to convey his intention to report at the commission’s office.
“We have prepared our investigators for him in the Lagos office and at the headquarters in Abuja,” an EFCC official confirmed. “We have extended courtesy to Babalakin and we gave him ample opportunity to respect our invitation. If he does not, we know the right step to take.”
According to the charge sheet, all the suspects will be arraigned in court for alleged “conspiracy to commit felony, to wit: corruptly conferring benefit on account of public action, contrary to Section 516 of the Criminal Code Law, CAP. C17, Laws of Lagos State, 2003 … corruptly conferring benefit on account of public action, contrary to Section 98A (1) (a) of the Criminal Code Law, CAP. C17, Laws of Lagos State, 2003 … and retention of proceed of a criminal conduct contrary to Section 17(a) of the Economic and Financial Crimes Commission (Establishment) Act, 2004.”
The charge sheet and the particulars of offence read, in part: “That you, Dr. Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Limited, between May 2006 and December 2006 within the jurisdiction of this Honourable Court did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N1, 356, 600b on account of contracts awarded by Delta State Government through various third parties to Erin Aviation Account in Mauritius for the purchase of Challenger Jet Aircraft by the said James Onanefe Ibori.
“That you, Dr. Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Limited on or about 3rd May 2006 within the jurisdiction of this Honourable Court did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N145,500,000 on account of contracts awarded by Delta State Government to Stabilini Visioni Limited by transferring the said sum through third parties to Erin Aviation Account in Mauritius for the purchase of Challenger Jet Aircraft by the said James Onanefe Ibori.
“That you, Dr. Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Limited on or about 10th May 2006 within the jurisdiction of this Honourable Court did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N141million awarded by Delta State Government to Stabilini Visioni Limited by transferring the said sum through third parties to Erin Aviation Account in Mauritius for the purchase of Challenger Jet Aircraft by the said James Onanefe Ibori.
“That you, Dr. Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Limited on or about 10th May 2006 within the jurisdiction of this Honourable Court did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N118million awarded by Delta State Government to Stabilini Visioni Limited by transferring the said sum through third parties to Erin Aviation Account in Mauritius for the purchase of Challenger Jet Aircraft by the said James Onanefe Ibori.
Other funds allegedly laundered by Babalakin, Stabilini Visioni, Bi-Courtney on the 5th, 10th and 26th of May were N100,000, N 89m, N102m, N35m, N156m, and N67m.
“On 2nd June 2006, the suspects did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N260m on accounts of contracts awarded by Delta State Government to Stabilini Visioni Limited by transferring the said sum through various third parties to Erin Aviation account in Mauritius for the purchase of Challenger Jet,” the agency added.
The charge sheet also revealed the dollar components of the funds laundered by the suspects in company with two others. EFCC accused Babalakin, Stabilini Visioni, Bi-Courtney, Renix Nigeria Limited and Alex Okoh of laundering about $11.3million for Ibori.
They are to face trial for alleged “retention of proceeds of a criminal conduct, contrary to Section 17(a) of the Economic and Financial Crimes Commission (Establishment) Act 2004. It further alleged that the suspects had also separately laundered $2m, $1m, $2m, $300,000 and $500,000, among others, for Ibori.
Babalakin’s Bi-Courtney Highway Services, earlier in the week, lost the concession to repair, upgrade and manage 106-kilometre Lagos-Ibadan Expressway, which it secured in 2009 at N89.53bn for 25 years. The contract was immediately re-awarded to Julius Berger and RCC Nigeria Limited.
