ALLEGED N4. 8BN FRAUD: APPEAL COURT ADJOURNS IBETO'S APPEAL TILL SEPT 16.(PHOTO).#PRESS RELEASE.
Alleged N4.8bn Fraud: Appeal Court Adjourns Ibeto’s Appeal Till Sept 16 A three-man panel of the Court of Appeal, Lagos Division,on Tuesday, May 7, 2024, adjourned till September 16, 2024, the hearing of the appeal filed by the Chairman of Ibeto Energy Development Company, Cletus Ibeto. The case, which was initially before Justice I.O. Ijelu of the Lagos State High Court, Ikeja, had suffered several adjournments due to the absence of the defendant to take his plea with respect to the 10-count charges preferred against him by the Economic and Financial Crimes Commission, EFCC. He was charged alongside his companies, Ibeto Energy Development Company and Odoh Holdings Ltd. Justice Ijelu had, on November 3, 2023 declared Ibeto wanted based on the application moved by counsel to the EFCC, Rotimi Jacobs, SAN. He had also issued a bench warrant for his arrest. However, when the case came up on January 29, 2024, the court informed all parties involved that the case file had been returned to
The EFCC,on August 2,2016 arrested a level six officer of the Accounts Department of the Federal Airports Authority of Nigeria,FAAN,Christy Olabode,for an alleged fraud to the tune of N100 million.Also arrested was her younger brother,Abdul-Shehu Obaze,a staff at the Commercial Department of FAAN in Ilorin,Kwara State,and Dominic Ojo,an IT officer at FAAN Heafquarters,Lagos.Her arrest followed an anonymous petition,which indicated that she allegedly diverted the said sum,by inserting names of non-FAAN staff into its payroll.She allegedly conspired with Obaze,to perpetrate the fraud.Obaze was found to have maintained not less than eight accounts in seven new generation banks,which were used to receive the funds for onward distribution to ''several high ranking officers within the FAAN''.The funds were being paid into his various bank accounts with the narrative,''Furniture Allowance''.However,while allowance for FAAN's furniture is usually paid once in three years,Obaze received the ''allowance'' several times within a year.Investigations carried out by the EFCC revealed that the fraud had gone on since 2013.It unearthed a payroll with names of many dead,retired and disengaged staff of FAAN listed against Obaze's different bank accounts.Upon interrogation,Obaze,a level nine officer,confessed that other FAAN officials were involved in the massive fraud,including Olabode's husband who works in the Human Resources department of FAAN.Olabode and Ojo currently enjoyed administrative bail,while Obaze remains in EFCC custody.They would be charged to court as soon as investigations are concluded.For now one picture is provided but i will upload the rest iif provided.One more photo below. 
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