Cover story? (5)
I believe the answer is:
'cover story?' is the definition.
(I've seen this before)
This is the entire clue.
(Other definitions for alibi that I've seen before include "Defence in court" , "Defence against accusation - was somewhere else" , "It shows one wasn't at crime scene" , "Defence against charge - was seen elsewhere" , "Court evidence showing one was elsewhere" .)