Tuesday 8 January 2013

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

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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.”
TheNation

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