Cerebral billionaire lawyer and businessman, Dr. Wale Babalakin, SAN clocks 54 today July 1. Although he is known to celebrate his birthdays in a quiet way, moreso that we are in the holy month of Ramadan, however, Dr. Faruk Bello, an Abuja-based social critic who knows the Chairman of Bi-Courtney Group well, sent in this article to celebrate this amiable philanthropist and indefatigable champion of good causes.
He clocks 54 today, Dr. Bolanle Olawale Babalakin, SAN, and the need to celebrate this Nigerian legal and business frontliner becomes necessary. It is not very often that such people with pedigree, sound education and exceptional achievements in business and philantrophy bestride the Nigerian landscape.
This is even moreso when such an exceptional Nigerian has been the target of vilification and orchestrated witch-hunt over projects that ordinarily ought to be a thing of pride to our country.
But what I’d call the vilification of an oasis of genius in a desert of mediocrity, largely over the issues surrounding the Muritala Muhammed Airport 2 and the Lagos-Ibadan Expressway project should not deter a fair-minded person from applauding a thorough-bred intellectual on his special day. Never for once did his fortitude waver during that twin-faced ordeal that got to a head in late 2012.
What comes to mind each time the story of this enigma is being told is his surprising act of forbearance despite the clear injustice meted against him and his proven track record of always staying on the right side of the law.
And so I salute the tenacity and courage of this Gbongan, Osun-state-born Cambridge-trained lawyer. He had identified the path of honour and success early in life and his story is always refreshing to tell.
After his youth service, Dr. Babalakin started his own firm in July 1988. The firm has blossomed and participated in all activities of the legal profession and now prides itself as one of the largest law firms in Nigeria with over 60 lawyers practicing in Abuja, Lagos and Port-Harcourt. It has also produced three senior advocates between year 2002 and now.
When I heard from the rumor mill at a time that Dr. Babalakin started business just recently and that his success was because he was largely favoured by Chief Olusegun Obasanjo, I decided to research into this issue. The result I came up with was particularly alarming and totally contrary to this stated position. By his 30th birthday in 1990, Dr. Babalakin had built three houses in Victoria Island, living in one and renting the two others out. Before 1991, he had built an eleven storey building on Campbell Street popularly known as The Rooftop (named after his roof flat in Selwyn Gardens, Cambridge). The three houses in Victoria Island were named RUMBLINGS because of the furor and the cacophony of noise that accompanied this magnificent feat in 1990.
By 1992, he had commenced building of a block of 38 flats at Ikoyi which he later sold to the Nigeria Social Insurance Trust Fund (NSITF) formerly Nigerian Provident Fund (NPF). This is the famous Bunu Sheriff Gardens on Probyn Road Ikoyi. He also commenced the development of the Hyatt Regency, Lagos. This project was conceived by Babalakin to ease the strain on hospitality in Lagos in 1993.
In 1993, Eko hotel was probably the only hotel that was functioning between Ikoyi and Victoria Island. The design of the project received very high awards internationally. When construction commenced in February 1993, it was stopped abruptly and for no reason by the Government of General Sani Abacha. It later transpired that Abacha and his cohorts saw the emergence of such a hotel as a direct threat to their own interest in the hospitality business. Babalakin was harassed and chased out of the land and was eventually detained on trumped up allegations over the failed bank saga.
The failed bank saga opened with fanfare from the Abacha Government. Babalakin was alleged to have taken hundreds of millions of depositors’ money for his own personal benefit. Prosecution by the press was the order of the day. There were few discerning Nigerians who queried the action. Why was Babalakin being vilified so soon after his land was confiscated by Abacha? Was this not strong arm tactics to cow him and make him unable to fight for his rights? On advice of his counsel, Chief Richard Akinjide, SAN an outstanding accountant and banker, Otunba Olutola Senbore was appointed to look into the books of Babalakin in Commercial Trust Bank. The result was alarming. Babalakin was not indebted to his bank. He was actually N11million in credit. The debtor was a State Government which acknowledged the debt and was willing to pay but it was convenient for the persecutors of Babalakin to ignore this position. Babalakin challenged this position in Court and obtained the necessary orders. He was subsequently released from detention when it became clear that the mischief of his persecutors was unsustainable.
On his return from detention and undaunted by the excessive persecution which lasted 23 months, Babalakin returned to his world of legal practice and property development in 1998 and gradually regained his position as a leader in the two fields. He completed his 13-storey building on Afribank Street which now houses his chambers and acquired more extensive real estate.
In 2001, the domestic wing of the Murtala Mohammed Airport was raised by fire. The forward-looking administration of Chief Olusegun Obasanjo whose aviation sector was manned by Dr. Kema Chikwe decided to experiment with a design, build, operate and transfer option (DBOT). The invitation to bid was duly advertised in the national newspapers including the New Nigeria and the Punch newspaper. The Government appointed its consultants to the project.
After a bid session, Messrs. Sanderton Ventures were awarded the concession in 2002. Contrary to the well established rumor mill, the Obasanjo Government did not award the Concession to Bi-Courtney at the onset. If as alleged, Obasanjo had a peculiar interest in Bi-Courtney, he could have awarded the concession to it ab initio, that is from the beginning.
After one year on the site, the Government came to the conclusion that Sanderton Ventures could not execute the contract and awarded it to the reserved bidder, Bi-Courtney Ltd.
Within the stipulated time, the airport design was changed from the lackluster design provided by the Ministry which is similar to the old Abuja domestic Airport to a modern edifice which is now called MMA2. This world-class airport has been variously described as the most outstanding landmark in aviation in Nigeria.
Unfortunately, Government has failed to honour its agreement with MMA2. It has violated the most important clause of the Agreement which is exclusivity. It has gone ahead to compete with MMA2 next door. How can a Government compete with its Concessionaire? How can a Regulator now be an Operator in the same sphere of operation? What sort of malicious mediocrity is this?
Bi-Courtney has won its arbitration against the Government; it has also won in the High Court. The Federal Government and other stakeholders have lost six appeals against this judgment and yet the Government is not complying with the Agreement. The Courts have slammed the Government with a special damage of N132billion. The Government is yet to pay the money. Yet an arm of the Government alleges that Babalakin owes it some money. The Court has directed that the money should be deducted from the N132billion and the balance paid to Babalakin. This is the only fair position. How can a Government agency seek to recover money from Babalakin and his companies when the Federal Government itself owes Babalakin at least four times what Babalakin is alleged to owe? I think the time has now come when special damages should be imposed on Government officials as well and not just the Government when they fail in their duties.
But we are in a country where anything goes! When I heard that the Government terminated the Lagos-Ibadan Expressway, I had a good laugh. The Government purportedly terminated the contract on grounds that there were series of breaches by Bi-Courtney Highways Ltd, the Concessionaire of the road. Instinctively, I knew the Government was being economical with the truth. But the issues have since unraveled. By the advert placed by Bi-Courtney on Monday the 2nd of December in all major newspapers, it is clear that out of the 3 years six months that Bi-Courtney had the concession, direct delay by the Federal Government was 2 years 10 months. The last rains accounted for six months. In effect, in a period of three years and six months, Bi-Courtney only had two months to work properly and it actually commenced the work through Borini Prono on September 23rd 2012.
It is noteworthy that the Ministry at the highest level commented positively on the quality of work and the speed of Bi-Courtney. This commendation was aired on Channels TV on November 12, 2012 and November 13, 2012. A week later, the Government purportedly terminated the Agreement. What type of inconsistency could that be?
The Minister purported to terminate the contract and award it to Julius Berger and R.C.C. When was the tender for this job done? If there was no tender, then the contract is illegal. If there was a tender, then the process took place while Bi-Courtney was being misled into believing that it had a concession with the Ministry. This is unpardonable bad faith which may lead to such damages that may cripple the Ministry of Works. Why should any Minister be capable of burning the nation’s wealth with ease like this? It is my opinion that if they are found to have acted in bad faith, substantial damages must be paid personally by these Ministers.
Like the Abacha days, do we not sense a clear case of witchhunt, in which case the Economic and Financial Crimes Commission is purporting to investigate and try an achiever immediately after arm-twisting him off the Lagos-Ibadan Expressway project?
We are seeking to kill a man of intellect, vision and courage like Babalakin instead of promoting him. Who is going to develop Nigeria when those who are talented are being massacred by mediocre? South Korea’s development was led by six or seven people who were encouraged by Government. The time has come to recognize our own genius and national developer in the name of Bolanle Olawale Babalakin, and no better time to reiterate this point than on a day like this, his birthday.
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