The Economic and Financial Crimes Commission (EFCC) has informed Justice Oyindamola Ogala of the Lagos High Court in Ikeja that Cletus Ibeto, Chairman of Ibeto Energy Development Company, has paid back N1.5 billion in two tranches for the N4.8 billion fraud charges.
Rotimi Jacobs, SAN, counsel for the EFCC, reported this to Justice Ogala on Monday.
He explained to the judge that the defendant paid the money as part of a plea agreement with the anti-graft agency.
Rotimi stated that the defendants have promised to pay the amount within the following three months.
Adebayo Oshodi, counsel for the defendants, did not dispute or confirm the claims.
The EFCC has filed a 10-count complaint against Ibeto and his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, alleging conspiracy, fraud, forgery, and fraudulent use of documents.