The founder and Group Managing Director of Dozzy Group, Chief Daniel Chukwudozie, has denied reaching an out-of-court settlement with Chief Cletus Ibeto and his group of companies over an alleged N4.8 billion Fraud.
In a press statement issued by the media office of Dozzy Oil & Gas Limited, the organisation maintained that the dispute remains unresolved, with an outstanding debt of US$3 million owed to Chief Chukwudozie.
The company accused Chief Ibeto of orchestrating a misinformation campaign, claiming that all disputes had been settled and that a judgment of the Rivers State High Court confirmed his ownership of 22.6 hectares of land at Reclamation Road, Port Harcourt.
Dozzy Group clarified these claims as false and misleading, emphasising that the court never granted such ownership but instead upheld its title to 122.3 hectares and issued an injunction against Chief Ibeto’s encroachment.
According to the organisation, financial records verified by the Economic and Financial Crimes Commission (EFCC) show that Chief Ibeto and his companies received ₦3.295 billion and US $6 million in two instalments in 2015; however, only the first US $3 million tranche has been repaid.
Dozzy Oil & Gas also dismissed claims about a Rivers State Gazette purportedly revoking the relevant land lease, describing the document as fraudulent according to the State’s Ministry of Lands and Survey.
The organisation stated, “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.
“In an affidavit before the Rivers State High Court (Suit No. PHC/158/CS/2022), Chief Cletus Ibeto claimed to be ‘the fifth richest Nigerian in terms of net worth and assets in U.S. dollars’ — conveniently ignoring that perjury carries a 14-year prison term under the Criminal Code Act.
“Yet, nearly ten years later, he has failed to refund US$3 million owed to Dozzy Oil & Gas Limited,” it claimed.
The company called on Chief Ibeto to act with integrity, if indeed he possesses the wealth he boasts of, by settling the outstanding debt and apologising for the financial and reputational damage caused.
It warned that it would persist in pursuing lawful remedies until the matter is resolved.
Members of the public and the media were urged to disregard Chief Ibeto’s narrative and recognise that the evidence and justice favour Dozzy Oil & Gas Limited, and that the allegations of forgery are supported by documents.
Read the full press release below:
“The True Facts In The Fraud By Sir Daniel Chukwudozie of Dozzy Oil & Gas Limited Against Chief Cletus Ibeto And His Companies
“The attention of Dozzy Oil & Gas Limited has been drawn to the ongoing misinformation campaign orchestrated by Chief Cletus Ibeto and his companies, falsely suggesting that all disputes with our company have been settled and that a judgment of the Rivers State High Court confirmed their ownership of a 22.6-hectare parcel of land at Reclamation Road, Port Harcourt.
“These claims are false, misleading, and maliciously intended to deceive the public. Contrary to Chief Ibeto’s assertions, he remains indebted to Dozzy Oil & Gas Limited in the sum of US $3,000,000.00, and the said court judgment never conferred ownership of 22.6 hectares upon him or his companies.
1. Proven Financial Dealings and Outstanding Debt: It is on record, and verified by the Economic and Financial Crimes Commission (EFCC), that: ₦3,295,000,000.00 (Three Billion, Two Hundred and Ninety-Five Million Naira) and US $3,000,000.00 (Three Million Dollars) were advanced by Sir Daniel Chukwudozie to Chief Cletus Ibeto and his companies between September and October 2015.
“A sum of US$3,000,000.00 was paid twice into the account of Ardeja Trading Company Limited, as nominated by Chief Ibeto in September and October 2015, as evidenced by First Bank of Nigeria Limited telexes.
“While the first US$3 million was repaid, the second US$3 million remains unpaid to date.
“Instead of fulfilling his obligation, Chief Ibeto denied the debt despite clear bank documentation to the contrary. No amount of propaganda can erase the verifiable financial records establishing these payments.
2. Forged Title Documents and Attempted Deception: Investigations revealed that Chief Ibeto presented forged title documents in a purported sale transaction for 22.6 hectares of land. In contrast, authentic records at the Rivers State Lands Registry show that his companies own only 7.8 hectares.
The Registrar of Titles, Mr Sylvanus Nwankpila, testified that the application for Governor’s Consent covered 7,800 square metres only.
The Lands Registry disowned the doctored documents, confirming that the 22.6-hectare version was a fake and had been deliberately manipulated to mislead.
This fraudulent misrepresentation was the trigger for the EFCC petition and subsequent criminal prosecution.
3. EFCC Investigation and Criminal Prosecution: Following extensive investigation, Chief Cletus Ibeto and his companies were charged before the High Court of Lagos State (Justice Ismail Ijelu) on a 10-count information for:
Obtaining money by false pretence, Forgery; and Uttering forged documents: Despite multiple adjournments, Chief Ibeto failed to appear in court, prompting the issuance of a Bench Warrant for his arrest. His legal team, including several Senior Advocates of Nigeria (SANs), repeatedly filed petitions and applications to delay proceedings, which the court described as an abuse of judicial process.
This matter serves as a clear example of an attempted trial by media and manipulation of public opinion to evade justice.
4. False Claims about Court Judgments: Contrary to the propaganda in circulation, the Rivers State High Court never awarded ownership of 22.6 hectares to Chief Ibeto or his companies.
The court affirmed Dozzy Oil & Gas Limited’s title under Deed of Assignment No. 37/37/359, covering 122.3 hectares, and granted a perpetual injunction restraining Chief Ibeto and his companies from further encroachment.
Furthermore, the purported Rivers State Gazette No. 13 Vol. 25 of 15 March 2000, tendered by Ibeto to suggest that NITECO’s lease (from which Dozzy derived title) had been revoked, was declared by the Rivers State Ministry of Lands and Survey to be non-existent and fraudulent.
5. Repayment and Unresolved Liability: During the proceedings, it was disclosed that certain refunds were made through the intervention of the EFCC; however, the US$3,000,000.00 balance remains outstanding.
Although the defendants, through their counsel, offered by letter dated 3 January 2024 to pay the balance in six instalments, no payment was made in strict compliance with that assurance.
Rather than settle his debt, Chief Ibeto has invested heavily in media propaganda and frivolous litigation, aiming to stall justice.
6. A Call for Accountability: In an affidavit before the Rivers State High Court (Suit No. PHC/158/CS/2022), Chief Cletus Ibeto claimed to be “the fifth richest Nigerian in terms of net worth and assets in U.S. dollars”, conveniently ignoring that perjury carries a 14-year prison term under the Criminal Code Act.
Yet, nearly ten years later, he has failed to refund US$3 million owed to Dozzy Oil & Gas Limited.
If Chief Ibeto indeed possesses the wealth he boasts of, he should demonstrate integrity by repaying his debt. Business integrity is built on trust, not deceit.
7. Our Position: Dozzy Oil & Gas Limited reiterates that: The dispute has not been settled.
The sum of US $3,000,000.00 remains unpaid;
All allegations of fraud and forgery are backed by documentary and official evidence; and
The company will continue to pursue lawful remedies until full repayment is made and justice served.
Conclusion; The public and media are hereby urged to disregard the false narratives being circulated by Chief Cletus Ibeto and his affiliates.
Truth, evidence, and justice remain firmly on the side of Dozzy Oil & Gas Limited.
“We therefore call on Chief Cletus Ibeto to immediately repay the outstanding sum of US $3, 000, 000. 00 and to publicly apologise to Sir Daniel Chukwudozie and Dozzy Oil & Gas Limited for the financial loss and reputational injury caused by his actions.”
