Thelma Osatohanmwen
The Economic and Financial Crimes Commission (EFCC) has informed Justice Oyindamola Ogala of the Lagos High Court that Cletus Ibeto, Chairman of Ibeto Energy Development Company, has refunded N1.5 billion in two tranches as part of a plea bargain arrangement concerning the N4.8 billion fraud allegations leveled against him.
Rotimi Jacobs, SAN, counsel to the EFCC, disclosed this during a court session on Monday, indicating ongoing discussions between the anti-graft agency and the defendants regarding plea bargain terms.
According to Jacobs, Ibeto and his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, have agreed to pay the remaining balance within the next three months.
Although counsel to the defendants, Adebayo Oshodi, neither confirmed nor denied the claims, the case could not proceed due to disagreements between the prosecution and defense regarding which application should be heard first.
Oshodi argued for the hearing of the defendants’ application challenging the court’s territorial jurisdiction, while Rotimi contended that the court should prioritize issues already before the Court of Appeal.
Rotimi also highlighted a previous order issued by former trial judge, Justice Ismail Ijelu, for Ibeto’s arrest due to his alleged failure to appear in court, preventing the court from hearing any application until the order is vacated or Ibeto appears in court.
Babajide Martins, Lagos State Director of Public Prosecution, appeared as an interested party, stating that he had filed an Amicus Curiae brief to assist the judge in deciding the case’s course of action.
In response, Justice Ogala adjourned the case to study the case file and determine the next steps, scheduling further proceedings for April 15.