The charge was filed at the Lagos High Court today.
According to lawyers connected with the case, Dr. Babalakin was being accused of laundering the money for the former Governor of Delta State, James Ibori, now incarcerated in a UK jail for a similar offence. The money was purportedly meant to buy a Bombardier Challenger jet for Ibori.
The money was said to have been laundered through Mauritius.
As at the time of filing this report, the case file is yet to be assigned to a Judge.
Dr.Babalakin is the chairman of Bi-Courtney Highway Service, which had the concession to rebuild the Lagos-Ibadan expressway on behalf of the Federal Government. On Monday, the Federal Government cancelled the agreement, with Babalakin's company saying it is yet to be informed officially.
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