nestoil

The Digest: The Court of Appeal has disqualified senior lawyers Wole Olanipekun and Muiz Banire from representing Nestoil and Neconde in a $2 billion debt case filed by FBNQuest Merchant Bank Limited and First Trustees. The court ruled that the authority of the Ernest Azudialu-Obiejesi-led...

The Digest: Nigeria’s Supreme Court has ordered Nestoil Limited and Neconde Energy back to the Court of Appeal to resolve a procedural dispute in a high-profile debt recovery case. The court condemned “frivolous appeals,” signaling that legal delays will not overshadow financial obligations...

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...