The Economic and Financial Crimes Commission (EFCC) will arraign Cletus Ibeto, Chairman/Chief Executive Officer 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 companies, Ibeto Energy Development Company and Odoh Holdings Ltd, before the court, alleging conspiracy, fraud, forgery, and fraudulent use of documents.
At the previous session, the defence lawyer, 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 already approached the prosecution for an out-of-court settlement and that negotiations were still ongoing.
The EFCC prosecutor, Rotimi Jacobs, reminded the judge that the case had been deferred at the previous proceeding 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.
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Before adjourning the case to this Friday, Justice Ijelu remarked on the defendants’ demeanor, stating that the court cannot assume jurisdiction over the matter until the defendants appear to take 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.
The prosecution says so far, plea bargain talks have not succeeded, a situation which will see the proceedings continue in court starting with the arraignment of the defendants.
Count 1 of the charge says that Ibeto, Ibeto Energy Development Ltd and Odoh Holdings Ltd between June 2016 & May 2017 within the jurisdiction of the court by false pretence and with intent to defraud, obtained from Dozzy Oil & Gas Ltd and Sir Daniel Chukwudozie, the sum of N4.8bn purporting same to be a consideration for 22.6536 hectares of land which he claimed to have at the end of Reclamation Road Layout, Port Harcourt, Rivers State by a deed of sublease executed by Odoh Holdings and into Energy Development Ltd when he only had 7.9 hectares of the said land.
Count 2 states that the defendants obtained N2.5bn from their victim as consideration for a non-existent 14.1 hectares of land while count 3 claims that they forged certain documents.
The offences are contrary to Section 1 of the Advance Fee Fraud Act 2006, Section 365(3d) & (e) & 366 of the Criminal Law of Lagos State, 2015.
The offence carries a punishment of no less than 7 years and no more than 20 years imprisonment without the option of a fine.
