Oil magnate, Jim Okolo refutes false claims, insists on contractual relationship with Oilserv

Businessman and philanthropist, Hon. Jim Okolo Chimezie, has described as misleading, false and an attempt to discredit his pursuit of justice, claims made during a recent Arise TV interview by the legal counsel representing Sir Emeka Okwuosa.

Okolo, who is the Chief Executive Officer of Jimez Petroleum Resources Ltd and President of the Jim Mezie Foundation, said verifiable financial records prove beyond doubt that Oilserv Ltd — through its official account — began making payments to him before intimidation and harassment set in.

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He explained that his involvement stemmed from facilitating critical business engagements with the Nigerian National Petroleum Company (NNPC) on behalf of Oilserv and its Chairman, Sir Emeka Okwuosa, in relation to the multi-billion-dollar Ajaokuta–Kaduna–Kano (AKK) gas pipeline project.

“In fact, Emeka Okwuosa, through Oilserv Ltd, made initial payments to me. One of such transfers was ₦1.5 million, and in the narration of that bank transaction, it was clearly described as ‘NNPC Business’. This was specifically for facilitation of my movements and logistics at the NNPC. It was part of our structured agreement after I assisted him in securing a portion of the $2.8 billion AKK gas pipeline contract. The terms were clear: I am entitled to 2 percent of the contract value. But after a few payments, he breached the agreement and turned to the DSS to intimidate me for demanding my balance,” Okolo narrated.

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He criticized the lawyer’s interview as not only misleading but also insulting to the Nigerian Police Force (NPF). According to him, “In that same Arise TV interview, Engr. Okwuosa’s lawyer admitted that they initially petitioned the DSS instead of the NPF, even though the matter clearly falls within the mandate of the police. His justification was frivolous and deeply unprofessional — he claimed that I was ‘in charge of the police,’ and therefore, they would not carry out their work professionally. That statement is both false and a direct slight on the integrity of the NPF.”

Okolo said such reckless comments not only expose the desperation of his opponents but also insult national institutions. “It is shameful to drag the police in the mud just to justify the misuse of the DSS. This is part of the same culture of intimidation and distortion of truth that my case has come to represent,” he stated.

He further emphasized that attempts to deny his evidence are nothing more than propaganda designed to sway public opinion and weaken his case before judgment.

“The matter is still before a competent court. There has been no dismissal or judgment against me. These false claims are part of a deliberate strategy to undermine my case in the media space and mislead Nigerians,” Okolo said.

He cautioned against the dangerous precedent of using security agencies as tools for private vendettas, describing it as an assault on democracy, the rule of law, and the independence of public institutions like the NNPC and the NPF.

“It is unacceptable for anyone to exploit state institutions to silence a citizen legitimately seeking his due. This case is not just about me; it is about whether Nigerians can stand for their rights without fear of intimidation by the so-called elites,” he declared.

Okolo urged Nigerians to discountenance what he called “lies and blabbing” and reaffirmed his confidence in the judiciary to deliver justice. He also called on journalists and civil society to expose misuse of power and ensure that truth is not buried under propaganda.

“My evidence is clear — the bank transactions, including the ₦1.5 million clearly marked ‘NNPC Business’, confirm my role in the facilitation of the AKK pipeline deal. This is bigger than Jim Okolo. It is about defending democracy, protecting the sanctity of contracts, and ensuring that no Nigerian is victimized for demanding what is rightfully his,” he concluded.

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