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Tag: Babalakin

  • How British police exposed Babalakin’s alleged N3.4b deal with Ibori

    How British police exposed Babalakin’s alleged N3.4b deal with Ibori

    The London Metropolitan Police blew the lid off the N3.4billion allegedly laundered through Mauritius for ex-Governor James Ibori to buy a Challenger jet, sources said yesterday.

    Embattled Bi-Courtney chair Olawale Babalakin and four others have been charged to court by the Economic and Financial Crimes Commission (EFFC) over how the money was wired.

    The others are Alex Okoh, Stabilini Visioni Limited, Bi-Courtney Limited and Remix Nigeria Limited.

    They are also to face a 27-count charge in the High Court of Lagos State , Ikeja Division, bordering on the siphoning of $11.3million abroad for Ibori through Erin Aviation Account in Mauritius.

    It is believed in some political and business circles that the filing of charges against the five suspects was not aimed at witch-hunting Babalakin, who is a reputable player in the construction and aviation sectors. A government source, who pleaded not to be named, debunked such insinuations yesterday.

    Besides, it was gathered that the alleged laundering of N3.4billion was discovered during the London Met Police’s comprehensive investigation into Ibori’s activities.

    It was also learnt that after the ex-governor was convicted, the Met Police made its investigation report available to the EFCC for “Nigerian content” of others allegedly implicated in the money laundering.

    It was learnt that some evidence from the UK police might be tendered during the trial of the suspects.

    A source conversant with the investigation said: “The Metropolitan Police and the EFCC established that the money in question was transferred from Delta State Government account to some companies owned by Babalakin and it was further laundered through Erin Aviation Account in Mauritius to a company in Canada where the Challenger aircraft was bought.

    “All the transaction documents will be tendered during the trial of the five suspects. If the court deems it fit, relevant desk officers in Met Police might be invited to give evidence during the trial.

    “Once the trial takes off, the public will have access to the records of the court, including the proof of evidence.

    “This is certainly a case involving joint collaboration between Metropolitan Police and the EFCC.”

    Another source said: “After getting some clues from Met Police, it will not speak well of our anti-corruption campaign for the EFCC not to step into the matter.

    “Do not forget that we have bilateral agreement with the UK on money laundering and other related crimes.”

    On alleged witch-hunt of Babalakin, the government source said: “This trial has nothing to do with the termination of the Lagos-Ibadan Expressway contract as being insinuated.

    “Government took note of Babalakin’s roles as a critical local investor and made sure the EFCC went about its investigation in the best international practices.

    “In fact, when Babalakin was initially arrested and grilled, the EFCC did not make it a media issue. The businessman was given a fair hearing and decent treatment.

    “The case became public knowledge and attracted controversy when he did not fully honour his commitment to appear for arraignment in court. This commitment was part of the conditions which made the EFCC to grant him an administrative bail.

    “President Goodluck Jonathan is not a vindictive leader at all; he has no cause to witch-hunt or frustrate Babalakin because of his closeness to any former President.

    “The suspect is a Senior Advocate of Nigeria (SAN); he knew what transpired during his interaction with the EFCC. He also wrote statements on oath; he should tell the public his testimony to the EFCC.”

    Barring last-minute hitches, the trial of Babalakin and others will begin next Thursday.

    The charge sheet, dated November 21, 2012 was filed by A.M. Yusuf, Esq. on behalf of the EFCC and the Attorney-General of the Federation.

    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.”

    They are also to respond to allegation of “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.”

    The third peg of their trial borders on alleged “retention of proceed of a criminal conduct, contrary to Section 17(a) of the Economic and Financial Crimes Commission (Establishment) Act, 2004.”

     

  • EFCC grills Babalakin

    EFCC grills Babalakin

    Businessman at agency for five hours after leaving LUTH

    The Economic and Financial Crimes Commission (EFCC) yesterday arrested the Chairman of Bi-Courtney Limited, Dr. Wale Babalakin, shortly after he was discharged from the Lagos University Teaching Hospital (LUTH).

    But Babalakin’s aides said he visited the Ikoyi, Lagos office of the EFCC on his own.

    The EFCC granted Babalakin bail because of his “fragile state of health”.

    According to sources, the operatives arrested Babalakin at about 9am, shortly after what was described as a “premature discharge” from LUTH.

    It was gathered that upon his arrest, Babalakin was taken to the Ikoyi Annex Office of the EFCC in Lagos for interrogation.

    For about five hours, the anti-graft commission grilled the businessman.

    A source said: “After a four-week surveillance, Babalakin was arrested on Monday within the premises of LUTH by some operatives of the EFCC.

    “I think the pressure was much on the management of LUTH and it had no choice than to ‘prematurely’ discharge Babalakin to pave the way for the arrest of the businessman.

    “The operatives were polite before whisking Babalakin away from the hospital. What the EFCC intended to achieve was to bring Babalakin to justice and prove to all Nigerians that no one is above the law.”

    It was also gathered that the EFCC pre-emptively acted to prevent Babalakin from going to the Court of Appeal to stop his arrest by the anti-graft agency.

    The source added: “Last Friday, a Federal High Court in Lagos threw away Babalakin’s application to prevent his arrest. As a Senior Advocate of Nigeria, he is determined to go on appeal by exploring the law.

    “Instead of bidding time with the court process, the EFCC moved in swiftly.”

    But another source accused EFCC of arresting Babalakin on his hospital bed.

    The source said: “They invaded his ward and hauled him into a LUTH van and took him to their Lagos office for interrogation.

    “I think their plan was to take him to Abuja for detention, but they discovered that his health could deteriorate and may result into death.

    “If they claimed that Babalakin was discharged, why did they take him to EFCC office in LUTH vehicle?”

    The Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, who spoke with our correspondent, said: “We arrested Babalakin after he was discharged by LUTH. We made sure that he was discharged by the hospital before he was picked up.

    “He was brought in a vehicle provided by the hospital to our Ikoyi office. But based on his fragile condition, the anti-graft agency will grant him administrative bail.”

    Responding to a question, Uwujaren said: “We did not arrest him on hospital bed, contrary to insinuations by Babalakin’s aides. We are a law-abiding organization; we cannot and we did not violate the sanctity of a hospital environment.”

    But a source denied that the businessman was arrested.

    According to the source, Babalakin went to the Lagos office of the EFCC on his own volition after his discharge from hospital.

    “He was even waiting for the EFCC officials at their office. This is contrary to what the EFCC people are telling the public,” he said.

    For about four weeks, Babalakin and the EFCC had been engaged in a hide and seek over the trial of the former and four others.

    Babalakin and four others were charged to court with alleged laundering of N3.4billion through Mauritius for ex-Governor James Ibori to buy a Challenger aircraft.

    The others are: Alex Okoh, Stabilini Visioni Limited, Bi-Courtney Limited and Remix Nigeria Limited

    They are also to face 27-count charge in the High Court of Lagos State , Ikeja Division, bordering also on the siphoning of $11.3million abroad for Ibori through Erin Aviation Account in Mauritius .

    But when the suspects were to be arraigned about four weeks ago, Babalakin was said to be ill and on admission in LUTH.

    From the hospital bed, the businessman returned to a Federal High Court seeking an order to stop the police, the State Security Service (SSS) and other security agencies from effecting his arrest or detention.

    But Justice Ibrahim Buba of the Federal High Court, Lagos last Friday dismissed his application.

    The judge asked Babalakin, who was still in the hospital, LUTH, last Friday, to face trial.

    It was believed that the judgment emboldened the EFCC to arrest Babalakin after his “unceremonious discharge by LUTH.”

     

  • Babalakin: EFCC’s LUTH siege continues till Dec. 12

    Babalakin: EFCC’s LUTH siege continues till Dec. 12

    The Economic and Financial Crimes Commission (EFCC) is to retain its surveillance team on the Chairman of Bi-Courtney, Dr. Wale Babalakin, at the Lagos University Teaching Hospital (LUTH) till December 12 when the businessman will be arraigned in court, it was gathered yesterday.

    Also, it was confirmed that the operatives of the Commission were still keeping a close tab on him at the amenity ward where he is receiving treatment.

    The surveillance has impeded the movement of Babalakin who found it difficult to move out of his ward. His associates have, however, expressed concern that the surveillance has amounted to “House arrest.”

    Babalakin and four others have been charged to court over N3.4billion allegedly laundered through Mauritius for ex-Governor James Ibori to buy a Challenger Jet Aircraft.

    The others are Alex Okoh, Stabilini Visioni Limited, Bi-Courtney Limited and Remix Nigeria Limited

    They are also to face 27-count charge in the High Court of Lagos State, Ikeja Division bordering also on alleged siphoning of $11.3million abroad for Ibori through Erin Aviation Account in Mauritius.

    But when the suspects were to be arraigned last week, Babalakin was said to be ill and on admission in LUTH.

    The sudden illness however forced Justice Adeniyi Onigbanjo to adjourn the case to December 12, 2012.

    But on Monday, EFCC operatives mounted surveillance on LUTH to ascertain that Babalakin was actually on sick bed.

    The anti-graft agency is however not in a hurry to “reduce the noose on Babalakin.”

    Investigation by our correspondent revealed that the EFCC decided to retain its surveillance on Babalakin to make sure that he respects the court by appearing for arraignment on December 12.

    A reliable source in the Commission said: “We are still retaining our surveillance on Babalakin in LUTH and we will do this till December 12 when he is due to appear in court.

    “Babalakin had given us his words that he would come to court for arraignment, we hope that he will honour his promise now that the court has given him enough time to attend to his health.

    “It is a good thing that he is in a government hospital where the court could get records of his true state of health. There is no hiding place for him.”

    But one of the associates of Babalakin, who spoke in confidence, said: “The EFCC has placed our principal virtually on what can be described as ‘house arrest’ because he cannot move out of his ward in the hospital.

    “They are watching over his movement as if he is a prisoner. This is a violation of his fundamental human rights. What we have is really a siege.

    “Even if they are adamant that it is surveillance, what court permitted them to do so? This is illegal and an abuse of the order of the Federal High Court in Lagos. They have forgotten that there is a subsisting order of prohibition preventing the EFCC and the Attorney-General of the Federation from going ahead with Babalakin’s arraignment. Are they saying that the order of a court is useless?

    “This is the time Nigerians should cry out. An injustice to one Nigerian is an injustice to all. It could be anybody’s turn tomorrow.”

    The Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, who spoke with our correspondent last night, said: “Babalakin is being watched but you will not see our men there, we are not disturbing his treatment. We are not disrupting activities in the hospital in any manner.

    “The image of a siege was a dummy to deceive the public. Babalakin is under surveillance and when somebody is under surveillance, you will not notice it. If it was true that we stormed LUTH, the public will notice it.

    “I challenge them to prove the claim that Babalakin is under siege, they should publish the photograph of the operatives that allegedly stormed LUTH. They are just embarking on a campaign to smear the hard-earned reputation of the EFCC. It is sheer propaganda to divert the attention of the public from the issue in court.”

    As at press time, it was gathered that the EFCC is already getting set for the arraignment of Babalakin.

    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.”

     

  • EFCC fails to arraign Babalakin

    EFCC fails to arraign Babalakin

    The much awaited arraignment of the Chairman, Bi-Courtney Limited, Chief Olawale Babalakin before a Lagos High Court, Ikeja failed to hold on Thursday owing to his ill health.

    Chief Babalakin was to have been arraigned for allegedly conspiring with the former governor of Delta State, James Ibori to transfer N4.7 billion out of the country.

    However, the 2nd defendant, Alex Okoh was in court.

    The court could not take his plea because the charges against him and two companies, Bi-Courtney Limited and Renix Nigeria Limited that were charge along with Chief Babalakin could not be read.

    Although there was so much anxiety over the arraignment, Chief Babalakin’s counsel, Mr. E.O. Sofunde told the court presided by Justice Adeniyi Onigbanjo that his client suddenly took ill.

    “My Lord, I want to tender unreserved apology for the absence of the first defendant”, he said.

    Asked by Justice Onigbanjo for the reason for his absence, Sofunde told the court that his client took ill.

    He claimed to have addressed a letter dated November 26, through the registrar, intimating the court that his client took ill and that he enclosed a medical report issued by Dr. Charles Harmound, his medical practitioner.

    “I have been further informed that sometimes last night, because his condition deteriorated, he was rushed to the Lagos University Teaching Hospital (LUTH) where he is presently on admission.

    “So, in the circumstance, I am constrained to request for a short adjournment of proceedings”, he said.

    Although the prosecution led by Mr. Rotimi Jacobs did not oppose the request for adjournment, he however told the court that on receipt of a copy of the letter addressed to the court, he immediately contacted his client, the EFCC.

    Jacobs told the court that the EFCC expressed its dismay at the attitude of Chief Babalakin in view of assurances given by the senior counsel, Dr. Biodun Layonu(SAN) that he would be produced before the court.

    Jacobs said that his client were surprised about the fact that on November 26, the date on his medical report, Chief Babalakin was with the EFCC in Abuja.

    Jacobs said that it took the commission about one week before it could get the defendant who was allegedly evading arrest and was made to write a statement same day.

    “My Lord, they came with a SAN, Dr. Layonu. Because of the respect they had for the SAN, he was released to him and undertaken given that he would be brought to the EFCC on Wednesday or this morning (Thursday).

     

  • EFCC to arraign Babalakin, others tomorrow

    EFCC to arraign Babalakin, others tomorrow

    The embattled chairman of Bi-courtney Limited, Chief Olawale Babalakin may be arraigned before a Lagos High Court in Ikeja tomorrow by the Economic and Financial Crimes Commission (EFCC) over alleged money laundering for former Governor of Delta State, Chief James Ibori.

    He, along with four others are to face a 27-count charge of money laundering involving about N3.4billion before Justic Adeniyi Onigbanjo, according to EFCC sources.

    The EFCC, had last week filed the charges, but was silent on when they would be arraigned.

    Those named with Babalakin are Alex Okoh, Stabilini Visioni Limited, his company, Bi-courtney Limited and Remix Nigeria Limited.

    The charges are, that Babalakin allegedly conferred benefits with the former Delta State governor, Chief James Ibori “to wit N1,356,600.00 on contract awarded to Stabilini Visioni Limited by transferring the sum through a third party to Erin Aviation account in Mauritius for the procurement of an aircraft

    It also accused the five suspects of siphoning $11.3million abroad for Ibori through Erin Aviation Account in Mauritius.

    The charge sheet, dated November 21, was filed by A.M. Yusuf Esq., on behalf of the EFCC and the Attorney-General of the Federation.

     

  • Wale Babalakin: Stormy times for an empire builder

    Wale Babalakin: Stormy times for an empire builder

    He’s one of Nigeria’s most connected lawyers and businessman with friends in high places. But for the last few years since he won the concession to build the second Murtala Muhammed Airport terminal in Lagos, Dr. Wale Babalakin, has been at the wars. The termination of the Lagos-Ibadan Expressway concession and his arraignment on charges of money laundering represent a new low for this high flyer. IBRAHIM APEKHADE YUSUF and SUNDAY OGUNTOLA profile the counsel in the dock.

     

    It is clearly one of the toughest battles of his life. For the Chief Executive Officer of Bi-Courtney Highway Services, Dr Wale Babalakin, the last few days have been really daunting. What started as a major blow with the loss of the Lagos-Ibadan Expressway concessioning, has turned out to be a tsunami threatening his vast business empire, political connections – and potentially, his freedom.

    Babalakin, a rich, well connected businessman, wields enormous political influence. The behind-the-scene actor has incredible access in the corridors of power, a fact critics said aided the growth of his vast business concerns. In 2005, former President Olusegun Obasanjo appointed him Chairman of the Constitutional Drafting Sub-Committees of the National Political Reforms Conference.

    He was also Member, National Political Reforms Conference in 2005 and Vice Chairman of the Committee on the Review of the Evidence Act CAP 112 Laws of the Federation of Nigeria 1990 in 2005. In 2007, he was appointed Honorary Special Adviser on Legal Matters and General Counsel to the former President Musa Yar’Adua.

    Since that appointment, Babalakin has remained entrenched in government circles. Despite his many accomplishments, the award of the concession for the Lagos-Ibadan Expressway on May 8, 2009 was seen by many as his defining business deal.

    Under the agreement, Babalakin was to construct the highway and recoup his investment in 25 years with a tolling system. Even when nothing was done on the highway, leading to serious public outcry owing to daily carnage, many considered Babalakin untouchable. His closeness to Obasanjo, they said, would shield him from any adverse consequence.

     

    But this was not to be last week. The Federal Government announced the revocation of concession agreement and re-awarded the contract to Julius Berger Nigeria Plc and RCC Nigeria Limited. The termination of the contract was just less than six months to the four-year deadline given to Bi-Courtney to complete construction of the highway.

    A dogged fighter, Babalakin appeared defiant. His firm through its spokesman, Mr. Dipo Kehinde, responded swiftly. It said the concessionaire agreement was a partnership, which entailed the Federal Government, would collaborate for its success.

    Kehinde however said the government did not do what it should have done as outlined in the agreement. According to him: “They (Federal Government) didn’t give us the necessary support. When the South- West governors were fighting us, the Federal Government was watching the fight. They didn’t stop the governors. It took the government two years to approve the design for the road.”

    Many foresaw a gigantic legal battle that will prove the lawyer in Babalakin. But this was not to be. Before Babalakin could dust his files, the Federal Government threw a clincher. Last Thursday, the Economic and Financial Crimes Commission (EFCC) charged Babalakin and four others for money-laundering. In the 27-count charge against Babalakin, Alex Okon, Stabilini Visioni Limited, Bi-Courtney Limited and Renix Nigeria Limited, the EFCC accused them of laundering about N3.4 billion on behalf of Chief James Ibori former Delta State governor.

    According to the charge sheet, the five are accused of conspiracy to commit felony and corruptly conferring benefit on account of public action contrary to Section 516 of the Criminal Code Law, CAP C17, Laws of Lagos state, 2003.

    The EFCC also accused Babalakin, Stabilini Vision and Bi-Courtney Limited of corruptly conferring benefit of the sum of N1.356 billion on former Governor of Delta state, James Onanefe Ibori between May and December 2006.

    The suspects according to EFCC will face trial 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.”

    POLITICAL VENDETTA?

    Political observers are of the view the money-laundering charge is to distract the powerful businessman from pursuing any legal case against the Federal Government for revocation of the concession agreement. Whoever the government is ready to deal it, it sends the EFCC after, many believe. Should he insist on suing the FG, they argue it would be easy to nail him with the charges.

    For a man who has been in the public eye navigating the courtroom and boardroom in the last two decades, many see his current travails as the flipside of being a politically-exposed person (PEP). From the days of the Sani Abacha military junta, where he was detained on account of his association with the late Chief MKO Abiola, Babalakin, he also lost his thriving banking business to the Abacha junta at the time.

    He is presently accused for money laundering. His company got a contract to build a stadium for the Delta State government under former Governor James Ibori, who is serving a jail term in London for money laundering.

    One commentator who sees in Babalakin’s travail an attempt by the powers-that-be to browbeat him into not taking on the government said: “Anybody can be charged with anything in this country. So let him go to the court to prove his innocence. But one is just curious because everything is coming at the same time.”

    While the action may yet be tested in the courts, some people are of the view that the termination of the Lagos-Ibadan Expressway contract is a risky manoeuvre by the government.