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By Lukman Olabiyi
Dozzy Oil & Gas Limited has refuted claims that it reached an out-of-court settlement with industrialist, Cletus Ibeto, over an alleged N4.8 billion fraud, insisting that the dispute remains unresolved and an outstanding debt of $3 million is yet to be repaid.
In a statement by its media office, the company maintained that Ibeto and his associated firms still owe the Dozzy Group’s founder and group managing director, Daniel Chukwudozie, despite circulating reports suggesting that all issues between both parties had been laid to rest.
The firm dismissed what it described as a “deliberate misinformation campaign” allegedly orchestrated by Ibeto, including claims that the Rivers State High Court had affirmed his ownership of 22.6 hectares of land at Reclamation Road, Port Harcourt.
According to Dozzy Oil & Gas, the court did not grant such ownership but, instead, upheld the company’s title to 122.3 hectares, while restraining Ibeto from further encroachment on the property.
Dozzy Oil & Gas further stated that EFCC-verified financial records showed that Ibeto and his companies received N3.295 billion and $6 million in two tranches in 2015, but have only refunded the first $3 million instalment.
The company also debunked the existence of a Rivers State Gazette purportedly revoking its land lease, describing the document as fraudulent, based on findings allegedly made by the state’s Ministry of Lands and Survey.
“Investigations revealed that Chief Ibeto presented forged land title documents in an attempt to claim ownership of a 22.6-hectare parcel, even though official records show his companies only possess 7.8 hectares,” the statement added.
It also referenced an affidavit filed by Ibeto in Suit No. PHC/158/CS/2022, in which he allegedly described himself as “the fifth richest Nigerian in terms of net worth and assets in U.S. Dollars,” noting that perjury attracts a maximum sentence of 14 years under the Criminal Code Act.
“Yet, nearly a decade later, he has failed to refund the outstanding $3 million owed to Dozzy Oil & Gas Limited,” the company said.
The organisation urged Ibeto to demonstrate integrity by settling the debt and apologising for the financial and reputational damage caused, adding that it would continue to pursue all lawful remedies until the matter is resolved.
It appealed to the public and the media to disregard Ibeto’s claims, insisting that available evidence supports Dozzy Oil & Gas Limited’s position, including allegations of forgery backed by official documentation.
