NewStats: 3,262,611 , 8,177,690 topics. Date: Tuesday, 03 June 2025 at 02:01 AM 423m20

The Economic and Financial Crimes Commission, EFCC, has told Justice Oyindamola Ogala of the Lagos High Court sitting in Ikeja that the
Chairman of Ibeto Energy Development Company, Cletus Ibeto, has paid back N1.5 billion in two tranches in respect of the N4.8 billion fraud allegations for which he was charged before the court.

Counsel to the EFCC, Rotimi Jacobs, SAN, disclosed this to Justice Ogala on Monday.

He also told the judge that the defendant paid the money as part of the ongoing plea bargain discussions between the anti-graft agency and
the defendants.

Rotimi explained that the defendants have agreed to pay the balance within the next three months.

Counsel to the defendants, Adebayo Oshodi, did not deny or confirm the claims.

The defendants, Ibeto and his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, face a 10-count charge bordering on
allegations of conspiracy, fraud, forgery and fraudulent use of documents brought against them by the EFCC.

https://dailypostngr.com/2024/03/n4-8bn-fraud-ibeto-refunded-n1-5bn-settled-for-plea-bargain-efcc/

Fraud smelling everywhere in Naija! What’s going on??

And, who’s been auditing all the recovered fund to tell us how they are being invested to avoid re-looting and subsequent Tales by moonlight in the future?

Returned money to be re-looted by someone else in authority, that's the way it works in my CORNtree

Why wasn’t Dangote charged after what He did with Emifele..?

Oh, he is from the untouchable tribe in Nigeria

The rate at which financial and moral corruption is bedeviling this country is just too much.

Corruption will kill nigeria

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In a country like China,he would face firing squad 😑

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Okay good to know

They’re only going after Ibeto and Innoson

this money is much oh.

but after the government recovers this money, what next?

I feel the Efcc needs to be investigated first. like a proper audit needs to be done on that government agency.

Recovered to be re-looted.

Nija my country.

Out of every 10 millionaire in this country, it will b hard to see 1 making money legitimately. So sad

T

The other ones fraudulent dealings with emefiele is well documented but no one is going after him.

When

Ibeto has paid




When will dangote pay

See how quick the news got to the frontpage,so that the slippery tribe will masturbate over it...Btw isn't it obvious that EFFC more often than not,prey more on certain individuals from certain parts of Nigeria while turn a blind eye when it gets to those two tribes that over the years has continuously looted and squandered the common patrimony of the Nigerian people by virtue of their long stay in power.For example,look at the top custom officers whom were found guilty of collecting bribes running into billions but because they are from those two tribes that has strangulated this country,they were treated with kid glooves and made to pay in a little part and they are now Free men back to their posts.
However and as usual we Igbos dont hold brief for our brothers if they commit crimes,they should pay for it.

Hmm

Engrbee:
Corruption will kill nigeria

Not will, it has killed Nigeria.
If you travel out of this country. You will b double checked if all is going smooth with you

Show me a billionaire without any trace of crime

So' it's not witch hunting case after all.

What is the different between him and the bandits that demanded over thirty trillion?

So no fraud traced from Dangote?
Upon all conivals?

Okay naa.......

God what’s all this rubbish going on self

vowiski:
Why wasn’t Dangote charged after what He did with Emifele..?

Oh, he is from the untouchable tribe in Nigeria

Typical!

Where is Mmesoma?

Always defending the indefensible with irrational ethnic irrationality.

Chaii

vowiski:
Why wasn’t Dangote charged after what He did with Emifele..?

Oh, he is from the untouchable tribe in Nigeria

Charged for what?


Carry your family go charge am nah! Who's stopping you?

Good Job,

But dont forget, Whats good for the goose is good for the Gander.
EFCC should be releasing daily news, Once in 6 months apprehension doesnt justify the existence of the whole agency.
Announce whistle-blowing phone numbers.
Announce email addresses where fraud allegations evidence can be sent to.
The world has advanced so much, you can have a lot of evidence sent to you as long as you always protect your source.

Once everyone knows, that the fraud could be detected and reported anonymously, it will cut down corruption by at least 50-80%.
If you see something funny going on send an email to us, send us a text with evidence, we will investigate the rest.

Not until you get that serious all these showboating wont curb the degree of corruption we have in Nigeria.

I respect Ibeto for this courage not like OUK who claimed "mere" N7billion and small small boys dragging him and if N7billio is "mere" why not pay it to avoid being drag by boys who should have be your cleaner in real sense?

One misinformed guy came here was boasting of OUK richer than Dangote etc I wasn't surprised because that is their usual way, we are talking of corruption he is talking "worth" and I said since OUK is that richer than even Bill Gate then tell him to pay the "mere" N7Billion simple!

Ibeto I like men like you "if you have it and if you it" then don't wait till little boys started dragging you in the name of efcc sort it out and have your peace.

Federal govt should also create an agency to fight tribal-Favouritism.

Ethno-religious bigotry is killing Nigeria slowly
.