N48.8bn Fraud: Strike Stalls Ibeto’s Arraignment

Chairman of Ibeto Energy Development Company, Cletus Ibeto

The nationwide strike embarked upon by labour union, on Wednesday, stalled the scheduled arraignment of the Chairman of Ibeto Energy Development Company, Cletus Ibeto, before the Lagos State High Court, Ikeja.

The trial judge, Justice Ismail Ijelu, had on November 3, fixed November 15, 2023, for the defendant’s arraignment after ordering his arrest.

The bench warrant issued by the court followed a motion moved by the counsel for the Economic and Financial Crimes Commission, Rotimi Jacobs (SAN), who informed him that the defendant had
failed to appear in court despite hearing notices repeatedly served on him.

The EFCC had charged the defendant, alongside his companies, Ibeto Energy Development Company and Odoh Holdings Limited over an alleged N4.8bn fraud.

The anti-graft agency filed a 10-count charge of conspiracy, fraud, forgery, and fraudulent use of documents.

The defendant’s arraignment was stalled on September 28, October 5, and November 3, 2023, due to his failure to appear in court, although he was represented by his lawyers.

Again, as a result of the NLC strike, the defendant’s arraignment, which had been slated for Wednesday, could not go on as the entrance to the court premises was locked by the workers’ union.

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