THE Economic and Financial Crimes Commission have reported that Cletus Ibeto, the Chairman of Ibeto Energy Development Company, who is facing charges of N4.8bn alleged fraud, has approached the commission to resolve the case outside of court.
Ibeto and his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, were charged with 10 counts including conspiracy, fraud, forgery, and fraudulent use of documents.
Justice Ismail Ijelu, on November 3, 2023, ordered his arrest after he failed to appear before the court on four different occasions to take his plea, despite repeated hearing notices served on him.
During the appeal hearing, Ibeto’s legal team, Wole Olanipekun (SAN), leading two other Senior Advocates of Nigeria, Uche Obi (SAN) and Bode Olanipekun (SAN), expressed readiness to proceed, but the EFCC’s counsel, Rotimi Jacobs (SAN) suggested the possibility of an amicable out-of-court settlement, stating that Ibeto has expressed willingness to enter a plea bargain arrangement and repay the money obtained from the complainant, Daniel Chukwudozie.
As a result, the Court of Appeal’s three man panel led by Justice Muhammed Mustapha adjourned the case till May 7, 2024, for the hearing of interlocutory applications and the main appeal.
