I Didn’t Borrow $3m From Dozzy Oil, Ibeto Tells Rivers Court

Business mogul and Chief Executive Officer of the Ibeto Group, Cletus Ibeto, has told a Rivers State High Court sitting in Port Harcourt, that he never borrowed the sum of $3 million from Daniel Chukwudozie, Chief Executive Officer of an indigenous oil firm, Dozzy Oil and Gas.

Ibeto made the denial on Friday during cross-examination by Emmanuel Ukala, a Senior Advocate of Nigeria (SAN) before Justice Adolphus Enebeli, of the State High Court.

He instead told the court that the land in dispute was sold to him and he paid the Naira equivalent.

However, when the issue of $3 million was mentioned, the business mogul quickly said there was no such transaction.

But, Ukala (SAN) insisted that it was the $3million that added up the amount in dispute to N4 billion for the land, adding that there was a dispute with the conversion rate.

Ibeto said: “My Lord, I am under oath. What I am saying is the truth. There was no second $3 million. I’m happy the counsel (Ukala) knows me very well.”

He also acknowledged receiving the letter from the Rivers State government dated March 5, 2018, requesting him to return the Certified True Copy of the land documents of Ibeto Energy Development Company Limited, relating to the land on the ground that its certification by the Registrar of Titles was in error.

The Ibeto Group boss said he didn’t return the documents because there was nothing wrong with it.

But when taken up on whether he got any letter from the Ministry of Lands and Survey, to the effect that the certification of his documents done for him was in error or fake, he said he didn’t receive any such letter.

It was also discovered that Ibeto had engaged a private surveyor instead of a government surveyor to survey government land and that could have been why the approval was withdrawn.

Ibeto said he was not interested in that, insisting that the surveyor must not be working in the Surveyor General’s office. That if the surveyor (names withheld) was not approved, the Surveyor General’s office would not have registered him.

He was also asked if he (Ibeto) was aware that Rivers State Inland Revenue wrote to EFCC denying issuing the ground rent receipts which he gave to Dozzy as evidence of his title to property.

It was also discovered that payments of N50.00 for stamp duty receipts for multimillion naira transactions done in 2017 were only paid on January 26, 2023 without any penalty payment.

Ibeto was also asked if he was aware that a Committee set up by the Rivers State to investigate the ownership of the said parcel of land reported that he does not own the lands he negotiated to sell, but he denied knowledge of that fact.

Earlier, lead counsel for Ibeto, Onyechi Ikpeazu (SAN) raised concern that his client was not on trial, but merely in court as a witness in the suit.

Ikpeazu had at the resumed hearing of the matter urged the court to caution journalists covering the proceedings to note that Ibeto was not in the “dock”, but “in the witness box”, as he was not on trial.

The counsel said his client, who is claimant in the suit, was only in the witness box to give evidence, stressing that he was not in any way on trial.

Consequently, the court charged all journalists covering the proceedings to be guided properly while doing their job.

The court adjourned continuation of the case till February 15, 16, 17, 2023.