Justice Oyindamola Ogala of a Lagos State High Court sitting in Ikeja has struck out an alleged N4.8 billion fraud charge filed by the Economic and Financial Crimes Commission (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 N3.2 billion he was accused of stealing from the alleged victim, Chief Daniel Chukwudozie.
Jacobs also informed the court that 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 N3.2 billion to the Commission.
Jacobs, however, told the court that two issues remained 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.
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, last year, filed a 10-count charge of conspiracy, fraud, forgery, and the fraudulent use of documents against the businessman and his companies, Ibeto Energy Development Company and Odoh Holdings Limited.
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, last year, 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.