Rita Odafe
Dismissal of Fraud Charges Against Chief Cletus Ibeto
A Lagos State High Court has dismissed the fraud allegations amounting to ₦4.8 billion against Chief Cletus Ibeto, who heads Ibeto Energy Development Company. The case was brought before the court by the Economic and Financial Crimes Commission (EFCC).
Justice Oyindamola Ogala ruled to strike out the charges after Rotimi Jacobs (SAN), the EFCC’s lawyer, indicated that a ₦3.2 billion refund had been made to Chief Daniel Chukwudozie, the alleged victim.
Jacobs revealed that the parties involved had negotiated an out-of-court settlement with the help of the EFCC. He mentioned, “After our last court meeting, we discussed the possibility of a settlement with the EFCC, leading to the refund of ₦3.2 billion.”
He also pointed out that while a partial resolution had been reached, two matters were still pending: accusations of forgery and an unreceived $3 million, which Ibeto denies receiving from the complainant.
Jacobs highlighted, “The EFCC has asked me to withdraw the case to promote reconciliation while they find a way to handle the outstanding issues. Thus, I request the court dismiss the charges.”
He confirmed that all parties had come to an agreement for the out-of-court settlement but indicated that he disagreed with the claims of unresolved issues.
The defense attorney, Adebayo Oshodi, supported this motion, asserting that an agreement had indeed been made to settle the case outside of court. He too denied any unresolved matters.
After considering the arguments presented, Justice Ogala approved the request to dismiss the case.
This legal matter began in April 2023 and involved multiple charges, including conspiracy, fraudulent activity, forgery, and the use of fake documents against Chief Ibeto, the Ibeto Energy Development Company, and Odoh Holdings Ltd.
The proceedings faced delays due to Chief Ibeto’s repeated absences in court, which resulted in an arrest warrant issued by former Justice Ismail Ijelu on November 3, 2023.
However, the defendants contested the court’s authority and raised allegations of bias against Judge Ijelu. In February 2024, the Chief Judge of Lagos State, Justice Kazeem Alogba, reassigned the case to Justice Ogala, who ultimately dismissed it after confirming the ₦3.2 billion refund and subsequent agreement between the parties involved.
