The Economic and Financial Crimes Commission (EFCC) will Thursday arraign the embattled Chairman of Bi-Courtney Limited, Dr. Wale Babalakin (SAN) before an Ikeja High Court, Lagos, for money laundering.
Babalakin is alleged to have laundered various sums of money on behalf of the former Governor of Delta State, Chief James Ibori while he was in office.
THISDAY learnt that Babalakin would be arraigned alongside four others on a 27-count charge of money laundering amounting to N3.4billion before Justice Adeniyi Onigbanjo.
The commission had last week charged Babalakin and others - Alex Okoh, Stabilini Visioni Limited, Bi-courtney Limited and Remix Nigeria Limited - for the alleged offence.
EFCC alleged that Babalakin had conferred benefits with the former Delta State governor “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 the Erin Aviation Account in Mauritius.
It also accused the five suspects of siphoning $11.3million abroad for Ibori through the Erin Aviation Account in Mauritius.
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