The Economic and Financial Crimes Commission (EFCC) has requested that the Lagos State High Court strike out fraud charges amounting to N4.8 billion against Chief Cletus Ibeto, the Chairman of Ibeto Energy Development Company, following his refund of N3.2 billion to the alleged victim, Chief Daniel Chukwudozie. The request was made during a court session on the matter at the Ikeja High Court, presided over by Justice Oyindamola Ogala.
EFCC counsel, Rotimi Jacobs (SAN), informed the court that after the last session, both parties had met with the EFCC to explore a possible settlement. “This meeting resulted in the defendant refunding N3.2 billion to the Commission,” Jacobs explained. He further stated, “There are still two unresolved issues: allegations of forgery and a claim by the complainant that Ibeto collected $3 million, which the defendant denies.”
Jacobs added that the EFCC had decided to withdraw the case in the interest of reconciliation, leaving the outstanding issues for the Commission to address separately. “We request that the court strike out the charge,” he concluded.
On the other hand, the defense lawyer, Adebayo Oshodi, disagreed with the claim of unresolved issues. “I confirm that all parties have agreed to settle the matter out of court,” Oshodi stated. “There are no outstanding issues in this case.”
After considering the arguments from both sides, Justice Ogala granted the EFCC’s request and struck out the case.
The EFCC had initially filed a 10-count charge in April 2023 against Ibeto and his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, accusing them of conspiracy, fraud, and forgery. The case had faced several delays, including Ibeto’s absence from court, which led to an arrest order being issued by former trial judge Justice Ismail Ijelu on November 3, 2023.
In February 2024, the case was reassigned to Justice Ogala following allegations of bias against Justice Ijelu and jurisdictional challenges raised by the defense.
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