According to the Economic and Financial Crimes Commission, Cletus Ibeto, Chairman of Ibeto Energy Development Company, who has been charged with N4.8 billion in alleged fraud, has sought the commission to settle the issue outside of court.
The EFCC charged Ibeto and his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, with ten offenses including conspiracy, fraud, forgery, and fraudulent use of documents.
Ibeto, however, has failed to appear for his arraignment at the Lagos State High Court in Ikeja.
On November 3, 2023, Justice Ismail Ijelu ordered his arrest after he failed to appear in court on four separate occasions to enter his plea, despite receiving numerous hearing notifications.
However, the defendant moved the Appeal Court to have the arrest order issued against him nullified.
Meanwhile, at the final hearing of the appeal, Ibeto’s lawyer, Wole Olanipekun (SAN), together with two other Senior Advocates of Nigeria, Uche Obi (SAN) and Bode Olanipekun (SAN), notified the court that they were ready to proceed with the hearing.
However, counsel for the EFCC, Rotimi Jacobs (SAN), informed the court that the parties had made significant efforts to settle the matter peacefully outside of court and requested that such an endeavor be given a chance rather than proceeding with the case hearing.
“Ibeto has approached the EFCC seeking to enter a plea bargain arrangement and has also stated that he would pay back the money he obtained from the nominal complainant, Daniel Chukwudozie,” Jacobs said in a statement.
Following the development, the Court of Appeal’s three-member panel, chaired by Justice Muhammed Mustapha, delayed the case to May 7, 2024, to hear interlocutory applications and the main appeal.
Justices Folashade Ojo and Abdullahi Bayero round out the panel.