Chief Ibeto returns N3.2 bn from alleged N4.8 bn theft, EFCC tells court

Admin I Wednesday, December 11, 2024

 

IKEJA, Lagos, Nigeria – The Economic and Financial Crimes Commission, EFCC today informed Justice Oyindamola Ogala that Chief Cletus Ibeto and the commission had agreed to settle out of court after he returned N3.8 billion out of N4.8 billion the commission accused him of stealing.

This disclosure forced Justice Oyindamola Ogala of a  Lagos State High Court sitting in Ikeja  to strike out the suit filled by (EFCC), against the Chairman of Ibeto Energy Development Company, Chief Cletus Ibeto.

Justice Ogala struck out the charge after counsel to the EFCC, Rotimi Jacobs (SAN), informed the court that Ibeto had refunded over ₦3.2 billion of the money he was accused of stealing from the alleged victim, Chief Daniel Chukwudozie. Jacobs also informed the court that both the defendants and the complainant had met with the EFCC and agreed to settle the matter out of court.

“After the last court session,  parties met with the EFCC to explore settlement options.This resulted in the defendants refunding ₦3.2 billion to the Commission.

Jacobs however told the court that  two issues remain unresolved and listed these to include the allegations of forgery and the $3 million that Ibeto denies collecting from the complainant.

“The EFCC has instructed me to withdraw this case in the spirit of reconciliation while the Commission decides how to address the outstanding issues. I therefore request the court to strike out the charge”, Jacobs said. Chief Ibeto’s counsel, Adebayo Oshodi, told the court that an agreement had been reached, resulting in the refund.

He however denied that there was any issue remaining unresolved.

He stated, “I can confirm to the court that all parties have reached an agreement, that the matter be settled out of court. I, however, deny that there are any outstanding issues.”

After considering the submission from both lawyers, Justice Ogala struck out the charge. The EFCC had in April 2023,  filed a 10-count charge bordering on conspiracy, fraud, forgery, and the fraudulent use of documents against the businessman and his companies, Ibeto Energy Development Company and Odoh Holdings Ltd.

Arraignment was however stalled and adjourned multiple times owing to the failure of the businessman to appear in court but  was  always represented by his lawyers.

Former trial judge Justice Ismail Ijelu granted the prosecution’s request on November 3, 2023, to order the arrest of Ibeto for not appearing in court despite assurances from his lawyers that he would attend. The case was however reassigned to Justice Ogala in February 2024 by the Chief Judge of Lagos State, Justice Kazeem Alogba. This was after the defendants accused Justice Ijelu of bias and also challenged the court’s jurisdiction to hear the case.