Dozzy Oil Denies Settling N4.8bn Case With Ibeto Out Of Court

Dozzy Oil & Gas Limited has denied that it has reached an out-of-court settlement with Chief Cletus Ibeto and his group of companies over their ongoing criminal prosecution over an alleged N4.8 billion Fraud before the Lagos State High Court in Ikeja.

The company, which made the clarification in a press statement issued on Tuesday by the company’s media adviser, Aguiyi Anaedo, described Chief Ibeto and his companies’ claims that the alleged fraud case has been settled and that the money has been paid as falsehoods.

Dozzy Oil & Gas stated that the claims are not only concocted but borne out of the mischievous intention to mislead the public by creating a ‘good boy’ image for themselves.

The company asserted that the settlement claims were intended to mislead the public.

The Economic and Financial Crimes Commission (EFCC) had filed a 10-count charge of conspiracy, fraud, forgery, and fraudulent use of documents against the businessman and his companies, Ibeto Energy Development Company and Odoh Holdings Ltd.

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However, the planned arraignment of the defendant has been stalled on several occasions due to his failure to appear in court, although his lawyers represented him.

Dozzy Oil & Gas emphasised that, according to an investigation by the Economic and Financial Crimes Commission (EFCC), they had advanced N3,295,000,000 and 6,000,000D to Ibeto and his companies on different dates.

The oil company stated, “It is also indisputable that our company and executive chairman advanced USD 3,000,000 to Cletus Ibeto and his companies on two occasions, notably on 2nd September 2015 and another on 9th October 2015. These amounts were wired to the designated account of Ardeja Trading Company Limited, nominated by Chief Ibeto from our company’s First Bank of Nigeria Limited account, with the relevant telex particulars.