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By Lukman Olabiyi
Dozzy Oil & Gas Limited has denied recent claims by Cletus Ibeto and his companies regarding an out-of-court settlement of a disputed $ 3 million transaction from 2015.
The company in a statement by its secretary, Prince Ugochukwu Ifeanyi, emphasised that the debt is unpaid, despite unsuccessful mediation efforts and alleged findings by the Economic and Financial Crimes Commission (EFCC) of irregularities in related land transactions.
It explained that the matter concerns a land transaction with discrepancies in land size, a $ 3 million debt, and exchange rate issues.
The statement highlighted that documents show a significant difference between the land area represented in certain dealings and the actual land titles and surveys, which prompted regulatory investigation.
The EFCC investigation reportedly uncovered forged receipts and discrepancies in titles involving the NITECO Shipyard Layout.
The petition leading to EFCC involvement predated the civil cases filed by Ibeto, clarifying that regulatory action was not solely after the civil proceedings.
