Court orders arrest of businessman cletus Ibeto over alleged N4.8 billion fraud

The defendant, who was represented by solicitors, failed to show up for court on September 28 and October 5, delaying his arraignment.

Cletus Ibeto, the Chairman and CEO of Ibeto Energy Development Company, was ordered to be arrested by the Lagos High Court on Friday, in the Ikeja neighbourhood. The reason given for the order was that Ibeto had reportedly refused to appear in court to face charges related to a 4.8 billion dollar fraud.

After a motion by Rotimi Jacobs, SAN, the counsel for the Economic and Financial Crimes Commission (EFCC), who informed the judge that the defendant had flagrantly failed and refused to appear in court despite repeated hearing notices being served on him, Justice Ismail Ijelu issued the bench warrant for his arrest.

In relation to an alleged N4.8 billion fraud, the EFCC had charged the defendant and his companies, Odoh Holdings Ltd. and Ibeto Energy Development Company.

A 10-count indictment of conspiracy, fraud, forgery, and fraudulent use of documents was brought by the anti-graft agency.

The defendant, who was represented by solicitors, failed to show up for court on September 28 and October 5, delaying his arraignment.

His attorney, Onyechi Ikpeazu, SAN, told the judge that his client was unable to appear on both occasions because of illness. But he said he will bring him before the court today.

Dada Awosika, SAN, Ibeto’s other attorney, informed the judge that the defendant was ill and could not appear in court when the case was called today.

Rotimi Jacobs, the EFCC Counsel, sought the court to issue a bench warrant for the businessman’s arrest in response to the incident.

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According to Jacobs, the Commission could have arrested the defendant because he was in Lagos, but it lacked the court’s permission to do so.

“You cannot bring elderly solicitors to court and squander its time.” To compel the defendant to appear in court, we beg the judge to issue us an arrest warrant,” Jacob stated.

Justice Ijelu ruled that the defence attorney had not presented the court with any convincing arguments to support his request for an adjournment.

The judge went on to say that the court was there to administer justice, not to engage in frivolous activities.

The defence attorney made the decision to squander the court’s time. The court is not something to be mocked; rather, it is a symbol of the state.

“Even though this was the senior counsel’s first appearance in the case, the defendant will show up for his arraignment, according to two previous senior counsel appearances.”

The court declared, “A bench warrant is hereby issued against the defendant in the absence of any cogent excuse to produce the defendant for arraignment.”

Judge Ijelu has postponed the case to November 15 in order to arraign the defendant.