Court adjourns to May 27, trial of businessman, Ibeto over alleged N4.8bn fraud

In anticipation of the Court of Appeal judgement, a Lagos High Court sitting in Ikeja has adjourned the trial of the Chairman of Ibeto Energy Development Company, Chief Cletus Ibeto till May 27.

Chief Ibeto was charged by the Economic and Financial Crimes Commission (EFCC) over an alleged N4.8 billion fraud.

The trial judge, Justice Oyindamola Ogala, adjourned hearing in the case to May 27, in anticipation of the Court of Appeal to deliver judgement on the appeal filed by the Ibeto against the ruling of Justice Ismail Ijelu of the High Court, who had issued a bench warrant against the defendant pending arraignment.

Chief Ibeto filed an appeal through Chief Wole Olanipekun (SAN), challenging the jurisdiction of the High Court to hear the matter.

At the resumed proceeding of the matter, the Ibeto’s counsel, Mr Adebayo Oshodi, prayed the court to withdraw the application for a stay of proceeding pending appeal and the one challenging court jurisdiction which was earlier filed by Onyechi Ikpeazu (SAN).

He also informed the court that he had filed a notice of preliminary objection dated January 26, challenging the jurisdiction, and prayed the court to allow him to move the application.

In his counter, the prosecution counsel, Mr Rotimi Jacob (SAN), opposed the application on the ground that the defendant had filed an appeal on the same issue before the Lagos Division of the Court of Appeal, adding that the appellate is yet to decide on it.

After listening to both parties, Justice Ogala ruled that hearing the defendant’s application would be pointless because the same issue is currently pending before the appellate court.

The judge held that it would be better for the court to await the Court of Appeal’s verdict before taking further steps on the trial.

Recall that the EFCC had filed a 10-count charge of conspiracy, fraud, forgery, and fraudulent use of documents against the defendant, who has not appeared before the court to take his plea.

Meanwhile, the Court of Appeal has fixed May 7, 2024, for the appeal hearing.

While adjourning the trial to May 27, Justice Ogala directed that the parties notify the court of the outcome of the appeal court.