The Chairman of Ibeto Energy Development Company, Cletus Ibeto, is reportedly pleading with the Economic and Financial Crimes Commission (EFCC) to settle a case of N4.8bn fraud leveled against him out of court.
The revelation was made by the counsel for the EFCC, Rotimi Jacobs (SAN), who said Ibeto is seeking to enter a plea bargain.
NIGERIACRIME reports that Ibeto, alongside his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, were charged with 10 counts, bordering on conspiracy, fraud, forgery and fraudulent use of documents.
However, the businessman has not honoured the invitation of the Lagos State High Court in Ikeja for his arraignment.
On November 3, 2023, Justice Ismail Ijelu issued an arrest order against Ibeto after he missed four court appearances to enter his plea, despite receiving multiple hearing notices.
In response, the defendant appealed to the Court of Appeal to nullify the arrest warrant issued by the court.
Meanwhile, at the last hearing of the appeal, Ibeto’s lawyer, Wole Olanipekun (SAN), leading two other Senior Advocates of Nigeria, Uche Obi (SAN) and Bode Olanipekun (SAN), informed the court that they were prepared to proceed with the hearing of the appeal.
But Jacobs (SAN), informed the court of serious indications from both parties to settle the matter amicably outside of court.
He suggested giving a chance to such an initiative instead of proceeding immediately with the hearing of the case.
“Ibeto has approached the EFCC seeking to enter a plea bargain arrangement and has also stated that he would pay back the money he obtained from the nominal complainant, Daniel Chukwudozie,” Jacobs said.
Following the development, the three-man panel of the Court of Appeal, led by Justice Muhammed Mustapha, adjourned the case till May 7, 2024, for the hearing of interlocutory applications and the main appeal.
Other panel members are Justice Folashade Ojo and Justice Abdullahi Bayero.