Alleged N4.8bn Fraud: Again, Court Adjourns Ibeto’s Appeal, Announces New Date

  • Justice Muhammed Mustapha adjourned till September 16, 2024, the hearing of the appeal filed by billionaire businessman, Cletus Ibeto
  • The court of appeal sitting in Lagos gave the ruling after Ibeto’s and EFCC’s lawyers informed the court that the parties are in the process of settling the matter
  • The EFCC’s lawyer said Ibeto had been making payments in line with the settlement proposal agreed upon between the parties

TheTalk.NG journalist Adekunle Dada has over 5 years of experience covering metro and government policy

Lagos state – The court of appeal sitting in Lagos has adjourned the hearing of the appeal filed by the Chairman of Ibeto Energy Development Company, Cletus Ibeto, over an alleged N4.8 billion fraud.

Justice Muhammed Mustapha adjourned till September 16, 2024, to await the report of settlement talks between the Economic and Financial Crimes Commission (EFCC) and the appellant.

Court adjourns Ibeto’s appeal over alleged N4.8bn fraudCourt adjourns Ibeto’s appeal to Sept. 16
Photo credit: @/ifeanyiakorjuruSource: UGC

Justice Ismail Ijelu had ordered the arrest of the Nigerian billionaire businessman after he failed to appear in court on at least four occasions to take his plea despite repeated hearing notices served on him.

Ibeto filed an appeal before the Appeal Court against his arrest order, formulating seven grounds for appeal, Channels Television reports.

On Tuesday, May 7, Justice Mustapha sitting alongside other panel members, Justice Abdullahi Mahmud Bayero, and Justice Paul Bassi suspended the enforcement of the bench warrant issued on November 3, 2023, against the appellant by Justice Ijelu.

The justices suspended the warrant after Ibeto’s lawyer, Chief Wole Olanipekun (SAN) and the EFCC’s counsel, Adebisi Adeniyi, informed the court that the parties are in the process of settling the matter.

They disclosed that Ibeto has so far refunded about N1.7 billion to the Commission.

The EFCC’s lawyer said Ibeto had been making payments in line with the settlement proposal agreed upon between the parties.

Adeniyi said it might therefore not be appropriate to go ahead with the appeal as it had become an academic exercise.

Olanipekun confirmed that they’re resolving the issue according to a Rivers State High Court decision.

He appealed to the court to revoke the bench warrant against his client, as the Appeal Court has yet to take up the case.

In a short ruling, Justice Mustapha held that:

“The bench warrant is now suspended and we encourage parties to continue with the negotiations until the next adjourned date of September 16”.

Court discloses date to hear Ibeto’s application

TheTalk.NG earlier reported that Justice Oyindamola Ogala adjourned the case to May 27, 2024, over an application challenging the court’s jurisdiction to hear the charge.

The EFCC had charged Ibeto on a 10-count charge of conspiracy, fraud, forgery, and fraudulent use of documents.

Source: TheTalk.NG


Why We Expelled Student Who Assaulted Lecturer in Viral Video, UNIZIK VC Finally Speaks
UNIZIK expelled Goddy-Mbakwe Chimamaka Precious after a viral video showed her assaulting lecturer Dr. Chukwudi Michael-Okoye, prompting disciplinary action Following a thorough investigation, the university’s disciplinary committee found Precious guilty of violating university regulations, leading to her expulsion UNIZIK emphasized its commitment to upholding high moral and ethical standards, reinforcing a zero-tolerance policy against indiscipline, ... Read more Continue reading here ▶


U.S. Embassy Announces Closure its Offices in Nigeria, Gives Reason
U.S. Embassy in Abuja and the Consulate General in Lagos announced they would be closed on Monday, February 17, 2025, in observance of Presidents’ Day The embassy also revealed that normal operations will resume on Tuesday, February 18, 2025 a day after the holiday The announcement was made via a post on X, advising individuals ... Read more Continue reading here ▶


Former Nigerian Governor Spits Fire, Warns Politicians Against Joining APC, Reasons Emerge
Senator Aminu Tambuwal condemned defections to the APC in the Northwest, labelling them as motivated by personal gain rather than public service Tambuwal accused the APC-led government of failing to address national issues and urged opposition unity to oust the administration in the 2027 elections The PDP Northwest reaffirmed its determination to reclaim political power ... Read more Continue reading here ▶


JUST IN: Tension as Protesters Set Police Station Ablaze, Location Announced
TheTalk.NG journalist Adekunle Dada has over 7 years of experience covering metro, government policy, and international events Ifon, Ondo state – Angry youths protesting the reported death of a boy have set ablaze the police division in Ifon, the headquarters of Ose Local Government Area in Ondo State. It was gathered that the boy was ... Read more Continue reading here ▶


Lady Who Left Home to Find Facebook Lover Gets Killed in House of ‘Ritualist’, Location Announced
Lawal Yetunde, a young teacher from Kwara State, was lured and killed by Abdulrahman Ballo, a local cleric, in what is believed to be a ritual killing Yetunde went missing after leaving a naming ceremony, with her last known contact traced to Ballo. Investigators later found her dismembered body in his apartment The crime has ... Read more Continue reading here ▶


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

Adblock Detected, Please disable your adblock to continue browsing this website