The Economic and Financial Crimes Commission (EFCC) will arraign Cletus Ibeto, Chairman/CEO of Ibeto Energy Development Company, before the Lagos State High Court sitting in Ikeja on Friday for an alleged N4.8 billion scam.
Following the businessman’s inability to appear in court for his arraignment, trial judge Justice Ismail Ijelu set October 5, 2023 as the date for his arraignment.
The EFCC had filed a 10-count charge against the defendant and his firms, Ibeto Energy Development Company and Odoh Holdings Ltd., before the court, alleging conspiracy, fraud, forgery, and fraudulent use of documents.
At the last session, the defence counsel, Dr Onyechi Ikpeazu (SAN), informed the court that his client was missing owing to illness, not a lack of respect for the court.
The court was also informed by the senior counsel that the defendants had previously approached the prosecution (EFCC) for an out-of-court settlement and that discussions were still underway.
The EFCC prosecutor, Rotimi Jacobs, reminded the judge that the matter had been deferred at the last session due to the defendants’ absence. He did, however, accept that if the defendants were sincere and dedicated to the process, the parties might look into out-of-court settlements.
Before adjourning the case until this Friday, Justice Ijelu remarked on the defendants’ demeanour, stating that the court cannot assume jurisdiction over the matter until the defendants come to accept their plea.
The judge also stated that the case had been deferred twice at the request of the defendants and that if they wanted to pursue an out-of-court settlement, they needed to first submit themselves for trial.
According to the prosecution, plea bargain discussions have so far failed, thus the procedures will resume in court, beginning with the defendants’ arraignment.
According to Count 1 of the charge, Ibeto, Ibeto Energy Development Ltd, and Odoh Holdings Ltd obtained the sum of N4.8bn from Dozzy Oil & Gas Ltd and Sir Daniel Chukwudozie between June 2016 and May 2017 within the jurisdiction of the court by false pretence and with intent to defraud, purporting it to be a consideration for 22.6536 hectares of land which he claimed to have at the end of Reclamation Road Layout
Count 2 alleges that the defendants received N2.5 billion from their victim in exchange for a non-existent 14.1 hectares of property, while Count 3 alleges that they falsified various papers.
Section 1 of the Advance Fee Fraud Act of 2006, Sections 365(3d) & (e), and Section 366 of the Lagos State Criminal Law of 2015.
The offence is punishable by imprisonment for no less than 7 years and no more than 20 years, with no option for a fine.
