nestoil

The Digest: A tense standoff unfolded at the Lagos headquarters of Nestoil Limited between the company’s management and a court-appointed receiver. The dispute escalated as management, accompanied by a security team and journalists, attempted to reclaim the building, citing a recent court...

The Digest: Nigerian banks have taken control of Nestoil Limited, one of the country’s major energy sector players, after the company and its affiliates defaulted on debts totaling over $1 billion. A Federal High Court in Lagos issued a Mareva injunction, authorizing the seizure of assets and...