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Court Dismisses ₦4.8 Billion Fraud Case Against Ibeto After Partial Settlement
The Lagos State High Court in Ikeja has dismissed a ₦4.8 billion fraud case brought by the Economic and Financial Crimes Commission (EFCC) against Chief Cletus Ibeto, Chairman of Ibeto Energy Development Company.
The decision came after the EFCC’s counsel, Rotimi Jacobs (SAN), requested that the charges be withdrawn, citing a partial settlement between the parties involved.
According to Jacobs, Chief Ibeto refunded ₦3.2 billion to Chief Daniel Chukwudozie, the alleged victim, as part of an out-of-court settlement facilitated by the EFCC. He explained that after the last court session, both parties entered discussions mediated by the Commission, which led to the agreement.
Jacobs stated: “Following the last court session, the parties met with the EFCC to explore settlement options, which resulted in the defendants refunding ₦3.2 billion to the Commission.”
However, he noted two unresolved issues: allegations of forgery and a disputed $3 million claim that Ibeto denies receiving from the complainant. Despite these outstanding matters, Jacobs said the EFCC decided to withdraw the case in the interest of reconciliation.
The defence counsel, Adebayo Oshodi, supported the motion to strike out the case and confirmed the settlement. However, Oshodi disputed Jacobs’ claims about unresolved issues, insisting that all matters had been resolved through the agreement.
The case began in April 2023 with a 10-count charge against Chief Ibeto, Ibeto Energy Development Company, and Odoh Holdings Ltd. The charges included conspiracy, fraud, forgery, and the use of fraudulent documents.
The trial faced delays, including Chief Ibeto’s repeated absences from court, which led the former presiding judge, Justice Ismail Ijelu, to issue a warrant for his arrest in November 2023. Subsequently, the defendants challenged the court’s jurisdiction and accused Justice Ijelu of bias, prompting the Lagos State Chief Judge, Justice Kazeem Alogba, to reassign the case to Justice Ogala in February 2024.
While the case has been struck out following the refund and settlement, questions remain regarding the unresolved allegations of forgery and the disputed $3 million. The EFCC may revisit these issues in the future, but for now, the court’s decision brings the contentious legal battle to a close.
The settlement reflects a growing trend in Nigeria’s legal system, where alternative dispute resolution mechanisms are employed to expedite cases and reduce the backlog in courts. However, critics argue that such settlements may undermine justice in cases involving serious allegations like fraud and forgery.
Justice Maryam Aliyu Hassan of the High Court of the Federal Capital Territory sitting at Gwarimpa in Abuja has ordered that former Minister of Labour, Dr Chris Ngige, be kept at Kuje prison till December 18.
Ngige will be on remand till the date when his bail application would be decided by the court.
Justice Hassan issued the order on Monday shortly after taking arguments for and against the bail request of the former governor of Anambra State.
Ngige’s lawyer, Patrick Ikwueto, SAN, pleaded with the judge to admit the former minister to bail, mainly on health ground.
He submitted that the former minister would not jump bail or interfere with witnesses if admitted to bail.
However, the Economic and Financial Crimes Commission, EFCC, represented by Sylvanus Tahir, SAN, vehemently opposed the bail request, insisting that Ngige was a flight risk.
Tahir told the judge that Ngige was granted administrative bail by the EFCC and allowed to travel abroad for medical care but never reported back to the Commission.
Besides, he said that the international passport released to Ngige; to facilitate the abroad trip was never returned till today.
The senior lawyer argued that it was when Ngige was re-arrested that he came up with a purported claim that he lost his passport.
He insisted that the claim of passport loss was an afterthought and should not be believed by the court.
After the submissions, Justice Hassan fixed December 18 to deliver ruling in the bail request.
Ngige was last Friday slammed with an eight-count charge bordering on corrupt practices.
News
Man whose marriage ended after 2 days speaks after his ex-wife claimed he caused it by asking for thr££some.
Bobby denied the allegations made by Uchechi Sandra Nnenne that her family sponsored their wedding which took place on Jan. 4, 2025.
According to Bobby, whom Sandra called Mr B in her story, he spent over N25million on their wedding.
He also denied Sandra’s claims that he kept borrowing money from her.
He sent LIB receipts of some credit alerts he made to Sandra’s account and others made to the accounts of vendors they employed for their wedding.
He also denied requesting thr££some from her. He said he called off the wedding on Jan. 15. He alleged he did this after finding out she was pregnant for another man. He accused her of getting pregnant for her boss. He did not provide evidence to back this allegation.
https://www.instagram.com/p/DSShW11DMnq/?img_index=8&igsh=bDRkNzBsZXV4YXJq
Sandra also didn’t provide evidence to back her allegations. (Check her claims in previous post).
A young woman allegedly gave birth to a baby boy and k!lled the newborn shortly after delivery in Gboko Local Government Area of Benue State.
The disturbing incident reportedly occurred in the early hours of Sunday, December 14, 2025 behind Government Secondary School, Gboko, throwing the community into pandemonium and mourning.
Residents are calling for immediate police intervention to investigate the circumstances surrounding the incident and ensure justice is served.
Authorities are yet to issue an official statement as of the time of this report.
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