Dozzy Oil & Gas Limited has denied that it reached an out-of-court settlement with Chief Cletus Ibeto and his companies over an alleged N4.8 billion fraud, saying the matter remains unresolved and that US$3 million is still outstanding. The company made the claim in a press statement issued by its media office.
According to the statement, Dozzy Oil & Gas said financial records allegedly verified by the Economic and Financial Crimes Commission show that Chief Ibeto’s companies received ₦3.295 billion and US$6 million in two instalments in 2015, and that only the first US$3 million tranche has been repaid. The company also accused Chief Ibeto of a misinformation campaign suggesting all disputes had been settled.
Dozzy Oil & Gas said a Rivers State High Court judgment upheld its title to 122.3 hectares at Reclamation Road, Port Harcourt, and granted an injunction against alleged encroachment by Ibeto’s companies. The statement added that the company regards a Rivers State Gazette purporting to revoke the relevant land lease as fraudulent, and that the State Ministry of Lands and Survey has so described the document.
The statement further alleges that Chief Ibeto presented forged land title documents to support a claim of ownership over a smaller parcel. “Investigations further revealed that Chief Ibeto allegedly presented forged land title documents attempting to claim ownership of a 22.6-hectare parcel, while official Rivers State Lands Registry records confirm ownership of only 7.8 hectares by Ibeto’s companies,” the company said.
Dozzy Oil & Gas urged Chief Ibeto to settle the outstanding debt and apologised for the financial and reputational damage it says it has suffered. The company said it will pursue “lawful remedies” until the matter is resolved.
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