Dozzy Oil & Gas Limited has denied reaching an out-of-court settlement with Chief Cletus Ibeto and his associated companies over an alleged N4.8 billion fraud, insisting that the dispute remains unresolved and that US$3 million is still owed.
The company made this claim in a press release issued through its media office.
In the statement, Dozzy Oil & Gas said financial records, allegedly verified by the Economic and Financial Crimes Commission, indicate that Chief Ibeto’s companies received ₦3.295 billion and US$6 million in two separate instalments in 2015, with only the first US$3 million tranche repaid.
The company also accused Chief Ibeto of spreading misinformation suggesting that all financial disagreements had been fully resolved.
The company highlighted that a Rivers State High Court judgment affirmed its ownership of 122.3 hectares at Reclamation Road, Port Harcourt, and issued an injunction against alleged encroachment by Ibeto’s companies.
The statement described a Rivers State Gazette purporting to revoke the land lease as fraudulent, noting that the State Ministry of Lands and Survey has confirmed the document’s invalidity.
Dozzy Oil & Gas further alleged that Chief Ibeto submitted forged land title documents to assert ownership of a smaller parcel of land. “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 statement said.
The company called on Chief Ibeto to settle the remaining debt and apologised for the financial and reputational harm it claims to have suffered. It added that it will continue to pursue “lawful remedies” until the matter is fully resolved.
