The Court of Appeal sitting in Lagos has adjourned till September 16, the hearing of the appeal filed by the Chairman of Ibeto Energy Development Company, Cletus Ibeto, challenging the jurisdiction of the State High Court to try him over an alleged N4.8 billion fraud.Justice Muhammed Mustapha who presided over the appellate court adjourned the appeal to await the report of settlement talks between the Economic and Financial Crimes Commission and the appellant.
Justice Ismail Ijelu had ordered Ibeto’s arrest after the businessman failed to appear in court on at least four occasions to take his plea over the alleged fraud charge against him despite repeated hearing notices served on him.Dissatisfied with the order for his arrest and the refusal of the court to hear his preliminary objection, the defendant filed an appeal before the Appeal Court, formulating seven grounds for appeal.
The justices suspended the warrant after Ibeto’s lawyer, Senior Advocate of Nigeria, Chief Wole Olanipekun, and the EFCC’s counsel, Adebisi Adeniyi, informed the court that the parties are in the process of settling the matter and that the appellant has so far refunded about N1.7 billion to the Commission.
Responding, Chief Olanipekun confirmed that the parties are settling the matter in line with a judgment of the Rivers State High Court.
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