Friday, November 23, 2012

The case against Babalakin, by EFCC


DETAILS emerged on Thursday as to the charges against the chairman of Bi-Courtney Highway Services, Dr Wale Babalakin and four others by the Economic and Financial Crimes Commission (EFCC).
The charge sheet, obtained by the Nigerian Tribune in Abuja indicated that the EFCC had instituted a 27-count charge against Babalakin, Alex Okon, Stabilini Visioni Limited, Bi-Courtney Limited and Renix Nigeria Limited.
A breakdown of the amount involved in the suit showed that Babalakin and others are being accused 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 Commission had on Wednesday filed the suit at the Lagos High Court, alleging that Babalakin and others helped Ibori to launder money belonging to Delta state outside the country.
Officials of the EFCC were said to have visited Babalakin’s Lagos residence on Wednesday but did not effect his arrest.
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 .
The charge sheet read in part:“That you, Dr Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Ltd 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, 600 billion on account 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 Aircraft by the said James Onanefe Ibori.
“Corruptly conferring benefit on account of public action contrary to Section 98A (1) (a) of the Criminal Code Law, CAP C17, Laws of Lagos ate, 2003.
“That you, Dr. Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Ltd  on or about 3rd May, 2006, within the jurisdiction of this Hounourable Court did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N145, 500, 000. 00 (One Hundred and Forty Five Million, Five Hundred Thousand Naira) on account 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 Aircraft by the said James Onanefe Ibori
“Corruptly conferring benefit on account of public action contrary to Section 98A (1) (a) of the Criminal Code Law, CAP C17, Laws of Lagos ate, 2003.
“That you, Dr. Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Ltd  on or about 10th May, 2006, within the jurisdiction of this Hounourable Court did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N141m on account 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 Aircraft by the said James Onanefe Ibori
According to EFCC, the suspects will be tried for “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 charge further read:   “That you, Dr. Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Ltd  on or about 10th May, 2006, within the jurisdiction of this Hounourable Court did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N118m on account 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 Aircraft by the said James Onanefe Ibori.
“That you, Dr. Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Ltd  on or about 10th May, 2006, within the jurisdiction of this Hounourable Court did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N100, 000. 00 (One Hundred Thousand Naira) on account 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 Aircraft by the said James Onanefe Ibori.
  “That you, Dr. Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Ltd  on or about 10th May, 2006, within the jurisdiction of this Hounourable Court did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N89million on account 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 Aircraft by the said James Onanefe Ibori.”

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