The Lagos State High Court in Ikeja has dismissed a ₦4.8 billion fraud charge filed by the Economic and Financial Crimes Commission (EFCC) against Chief Cletus Ibeto, Chairman of Ibeto Energy Development Company.
Justice Oyindamola Ogala struck out the charge after counsel to the EFCC, Rotimi Jacobs (SAN), informed the court that Ibeto had refunded over ₦3.2 billion of the money he was accused of stealing from the alleged victim, Chief Daniel Chukwudozie.
Jacobs also informed the judge that both the defendants and the complainant had met with the EFCC and agreed to settle the matter out of court.
He said, “Following the last court session, the parties met with the EFCC to explore settlement options, which resulted in the defendants refunding ₦3.2 billion to the Commission.
However, two issues are still unresolved: the allegations of forgery and the $3 million that Ibeto denies having received from the complainant.
“The EFCC has directed me to withdraw this case in the interest of reconciliation while it determines how to resolve the remaining issues. I therefore request that the court dismiss the charge.”
The defense attorney, Adebayo Oshodi, confirmed in court that an agreement had been reached, leading to the refund, but denied that any unresolved issues remain.
