Court Discharges, Acquits,Cletus Ibeto After N3.2bn Refund In Fraud Charge

The Lagos High Court on Wednesday acquitted the chairman of Ibeto Energy Development Company, Chief Cletus Ibeto after he returned over N3.2 billion out of the N4.8 billion allegedly stolen from a victim, Chief Daniel Chukwudozie.
The Economic and Financial Crimes Commission (EFCC) disclosed the refund before the Lagos State High Court sitting in Ikeja.
Justice Oyindamola Ogala struck out the case following a request from the EFCC’s counsel, Rotimi Jacobs, who disclosed that Ibeto had refunded ?3.2 billion to the alleged victim.
Jacobs requested that the court strike out the case to allow the EFCC time to decide how to address the unresolved matters, stating that the parties had reached an out-of-court settlement during discussions facilitated by the EFCC.
The defense counsel, Adebayo Oshodi, supported the motion to strike out the charge, affirming that all parties had reached an agreement to resolve the case out of court.