The Economic and Financial Crimes Commission (EFCC) has invited Bi-Courtney Chairman Wale Babalakin (SAN) over N2 billion loot traced to a former Governor of Delta State, James Ibori.
There were strong indications last night that some charges had been filed against Babalakin at a high court in Lagos.
Although the details of the charge were unknown, Babalakin has maintained his innocence on the allegation that he laundered money for Ibori, who is in a UK prison.
One of his aides said Babalakin had not received any invitation from the EFCC.
When called at about 6.09pm, Babalakin was about going into a meeting with his management team.
A source in EFCC, who spoke in confidence, said: “We have invited Mr. Wale Babalakin for interaction with our investigators on the alleged N2billion loot traced to ex-Governor James Ibori.
“Our investigation showed that the loot was suspected to have been laundered through one of the firms owned by Babalakin.
“We want to hear his own side to wrap up investigation into the allegation against Ibori.”
Another source added: “I am aware that the EFCC interacted with Babalakin before. I think the invitation may be part of a move to arraign him in court over the loot.
“I know that some charges were filed against Babalakin at a Lagos High Court yesterday.
“I cannot give you the details but whenever the businessman honours our invitation, the public will certainly know.”
But an aide of Babalakin alleged that the purported invitation was a move to intimidate the businessman to prevent him from going to court over the termination of the concession of the Lagos-Ibadan Expressway.
One of the close aides said: “This is 6.09pm; our chairman has not got any letter of invitation from the EFCC and he has not been served any court paper. So, where did they come across these unknown charges?
“The allegation of laundering N2billion against Babalakin has been recurring in the past few months and no infraction has been established.
“Babalakin is innocent; some forces in government are out to intimidate him so that he will not go to court over the termination of the concession agreement on Lagos-Ibadan Expressway.
“They are aware that they breached the existing agreement on the concession of Lagos-Ibadan Expressway. They know that Bi-Courtney Consortium has a good case but they want to use the EFCC to force Babalakin to negotiate and overlook errors committed by the Federal Government.
“This man is just being persecuted because he was loyal to the late President Umaru Musa Yar’Adua. What is going on has political undertone beyond the EFCC.
“They are just desperate, trying to hang him at all cost. These arm-twisting tactics will not assist indigenous investors to succeed.”
