The case concerning the alleged N4.8 billion fraud involving businessman Chief Cletus Ibeto was adjourned by Justice Oyindamola Ogala of the Lagos State High Court, sitting in Ikeja, Lagos, to May 27, 2024. Originally scheduled before Justice I.O. Ijelu of the Lagos State High Court, Ikeja, the proceedings encountered multiple delays due to the defendant’s absence to enter his plea concerning the 10-count charges brought against him by the Economic and Financial Crimes Commission (EFCC). Chief Ibeto, along with his companies Ibeto Energy Development Company and Odoh Holdings Ltd, faced these charges.
Chief Ibeto pursued appellate intervention following a bench warrant issued by Justice Ijelu, challenging both the jurisdiction of the High Court to hear the case and the warrant itself. Represented by his legal counsel, Chief Wole Olanipekun, SAN, the defendant filed appeals on these matters.
During the recent court session, defense counsel Adebayo Oshodi sought to withdraw the application for stay of proceedings pending the appellate court’s determinations. He also informed the court of a preliminary objection challenging its jurisdiction and requested to argue this objection.
However, prosecution counsel Rotimi Jacob, SAN, opposed the application, citing an ongoing appeal on the same matter before the Lagos Division of the Court of Appeal. He further revealed that the defendant had initiated an out-of-court settlement, repaying N2 billion to the Commission in installments.
In her ruling, Justice Ogala declined to entertain the defendant’s application, emphasizing that the appellate court was currently considering the same issue. She underscored the need for judicial efficiency, stating that issuing a ruling at this stage would be premature. Consequently, she adjourned the case to May 27, 2024, directing both parties to update the Court on the outcome of the appeal, scheduled for May 7, 2024, at the appellate court.
