According to the Economic and Financial Crimes Commission, Cletus Ibeto, the chairman of Ibeto Energy Development Company, who is accused of defrauding the company out of N4.8 billion, has contacted the commission in an attempt to resolve the matter outside of court.
The EFCC filed ten counts against Ibeto and his businesses, Odoh Holdings Ltd. and Ibeto Energy Development Company, pertaining to conspiracy, fraud, forgery, and fraudulent use of documents.
However, Ibeto has neglected to show up for his arraignment at the Lagos State High Court in Ikeja.
On November 3, 2023, Justice Ismail Ijelu issued an order for his arrest because, after being provided with hearing notifications four times, he did not show up in court to enter a plea.
However, the defendant went to the Appeal Court to ask that the court’s arrest warrant against him be revoked.
Ibeto’s attorney, Wole Olanipekun (SAN), together with two other Senior Advocates of Nigeria, Uche Obi (SAN) and Bode Olanipekun (SAN), told the court during the most recent hearing of the appeal that they were ready to move forward with the hearing.
Nonetheless, Rotimi Jacobs (SAN), the EFCC’s attorney, told the court that there were significant signs that the parties wanted to resolve the dispute out of court and recommended that the case be heard without further delay.
According to Jacobs, “Ibeto has approached the EFCC seeking to enter into a plea bargain arrangement and has also stated that he would repay the money he obtained from Daniel Chukwudozie, the nominal complainant.”
In response to the events, the Court of Appeal’s three-member panel, presided over by Justice Muhammad Mustapha, postponed the case’s hearing on the main appeal and interlocutory motions until May 7, 2024.
Justices Abdullahi Bayero and Folashade Ojo are additional panelists.