Ibeto Cement was founded in 1997 by Dr. Cletus Madubugwu from Nnewi as the Chairman/CEO of The Ibeto Group.

Ibeto Cement was founded in 1997 by Dr. Cletus Madubugwu from Nnewi as the Chairman/CEO of The Ibeto Group.

His headquarter was located in Port- harcourt.

Ibeto has since been banned by the Buhari government from producing and importing cements in Nigeria.

Amongst many reasons for the ban some source has it that he wasn’t cooperating with the Federal government while another has it that he was banned for not having his money come from the CBN.

It is highly believed that the stoppage of Ibeto Cement has some political undertone.