Chairman, Bi-Courtney Highway Services, Dr. Wale Babalakin

By Our Reporter
Economic and Financial Crimes Commission will on Thursday, arraign Chairman, Bi-Courtney Highway Services, Dr. Wale Babalakin, and four others for allegedly laundering over N3.4bn for the convicted former Governor of Delta State, James Ibori in 2006.
EFCC sources familiar with the case said Babalakin was grilled at the Abuja office of the EFCC on Monday in preparation for his arraignment.
Babalakin and others will be arraigned on 27 counts before Justice Adeniyi Onigbanjo of a Lagos High Court in Ikeja.
Others, who are to be arraigned along with Babalakin are Alex Okon, Stabilini Visioni Limited, Bi-Courtney Limited and Renix Nigeria Limited.
They are accused by the EFCC to have conspired to corruptly confer benefit on Ibori and retained proceeds of crime on his behalf.
EFCC said the alleged offence of “corruptly conferring benefit on account of public” contravenes  Section 516 of the Criminal Code Law, CAP C17, Laws of Lagos State, 2003.
It also said the accused’s retention of proceeds of a criminal conduct contrary to Section 17 (a) of the Economic and Financial Crimes Commission (Establishment Act 2004)
EFCC had filed the charge on November 21, 2012 waiting for the matter to be assigned to a judge.
Part of the charge read, “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, 600,000 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.