Kibo is likely the same name of the city when it was under King Banhammer. When refounding her side, Jillian lacked either the creativity or the desire to create a new name for the capitol and main city of Faq, so it is likely she kept the name of Kibo as well.
KIBO may stand for "Knowledge In Bull(boop) Out!"
This may signify some cynicism. Possibly on the intelligence which the side acts on or on the philosophical rule under King Banhammer, (assuming Queen Jillian kept the same farm city names as she kept the name of Faq)
Kibo is also the alias of Usenet user James Parry, who was known for both humorous messages and for "appearing when summoned" -- that is, scanning all Usenet feeds automatically for references to the alias Kibo, and responding to each such message.