A High Court in Port Harcourt, Rivers State, has resolved a N4bn failed land business transaction involving two oil companies, Ibeto Group Company, and Dozzy Oil and Gas Company Limited.
The trial judge, Justice Adolphus Enebeli, while delivering his judgement in the mattter brought by the Ibeto Group Companies to enforce his fundamental human rights in suit No PHC/268/FHR /2022, against Dozzy Oil and Gas Limited, held that the transaction was a failed business countract and ordered the defendant, Ibeto company, to refund the complainant, Dozzy oil and Gas limited the sum of N4.6bn the company paid to it for the purchase of the failed land.
The court held that reliefs 1 and 6 by the defendants were in order and therefore subsists, adding that the defendants have proved their case that the failed land transaction was entered legitimately.
The court therefore ordered the claimant in the mattter, Ibeto company, to refund back the sum of N4.6 billion to the defendant for the failed land business transaction.
Speaking to journalists outside the court room, counsel to the claimant, Barr Okechukwu Omordu, expressed satisfaction with the court ruling, saying that the judgement partially favoured his client and also the claimant applicant.
According to him, he will demand their money to be paid back to his client as ordered by the court and added that the matter lasted for a short period because the parties agreed for expendious trial.
Also speaking, counsel to the claimant, Sir Henry Bello told journalists that the court didn’t found his client of any wrong doing as speculated by the defendant, adding that there were two different lands in question.
“The land belonging to Ibeto is different and the one bought by Dozzy”, he stated.
He, however, said he will brief the out come of the judgement to his client which would determine their next line of action in the matter.
Dozzy & Gas Limited had filed a petition to the Economic and Financial Crimes Commission (EFCC) through its lawyers alleging, among others, a case of criminal breach of trust involving N4.8billion on a land purchase deal against Cletus Ibeto and his group of companies, alleging that Ibeto, a close friend of its Executive Chairman, based on trust, had offered to sell his company’s property situate at NITECO Shipyard Area, Reclamation II Layout, Port Harcourt, Rivers State and collected an advance deposit of N4.8bn from the company.
The petition stated that the company later carried out due diligence only to discover at the land registry in Port harcourt that the portion of land which Ibeto sought to sell to it does not belong to him or his companies, but to Nigeria Technical Company Limited (NITECO).
The company further alleged that the copy of Ibeto’s title deeds which it gave to Dozy was different from the counterpart copy in the Port Harcourt Lands Registry.
However, Ibeto hurriedly approached a Port Harcourt High Court to enforce his fundamental human rights in a Suit with No PHC/268/FHR/2022 against Dozzy Oil and Gas Limited allegedly trying to fend off allegations of the sale of property not belong to him and other allegations of fraud, breach of trust and forgery against him reported by Dozzy Oil and Gas Limited to EFCC.
In the suit, he had dragged the Economic and Financial Crimes Commission (EFCC), and Dozzy Oil and Gas Ltd before a court seeking an order to stop the EFCC from arresting and or investigating him whatsoever, in enforcement of his fundamental human right.
It was at this point that efforts were sought to carry out out-of-court settlement which also broke down, warranting the continuation of the case in court.

By; Akujobi Amadi