Alleged N4.8bn Fraud: Court Orders Arrest of Igbo Businessman, Cletus Ibeto 

The Lagos High Court sitting in Ikeja, Lagos on Friday ordered the arrest of Chairman/CEO of Ibeto Energy Development Company, Cletus Ibeto. This action was prompted by his alleged failure to appear in court to face trial on charges relating to a N4.8 bn fraud.

Justice Ismail Ijelu issued the bench warrant for his arrest following a motion presented by the counsel to the Economic and Financial Crimes Commission (EFCC), Rotimi Jacobs, SAN. Jacobs informed the judge that despite repeated hearing notices, the defendant had blatantly refused to attend court proceedings.

Ibeto, along with his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, had been charged by the EFCC with an alleged N4.8 billion fraud. The charges include conspiracy, fraud, forgery, and fraudulent use of documents.

Despite earlier representations by his lawyers citing his illness as the reason for his absence on two occasions, when the matter was called on this day, another counsel, Dada Awosika, SAN, stood in for Ibeto, claiming the defendant was still unwell.

In response, the EFCC Counsel, Rotimi Jacobs, urged the court to issue a bench warrant for Ibeto’s arrest, arguing that the defendant was in Lagos and could have been apprehended by the Commission if they had the court’s order to do so.

Justice Ijelu, in his ruling, emphasized that the defense had not presented any compelling reason for the court to grant their request for an adjournment. He asserted that the court exists to administer justice, not for frivolous delays.

The judge, therefore, issued a bench warrant against the defendant, and the matter was adjourned to November 15 for his arraignment.