Conflicting court orders escalate Nestoil, Neconde crisis

Conflicting court orders intensify the Nestoil Neconde dispute as staff storm offices despite Court of Appeal injunctions

Fresh concerns over judicial interference emerged Tuesday after staff of Nestoil Limited reportedly forced entry into the company’s Lagos premises, despite an existing Court of Appeal order restraining disruption of the court-appointed Receiver/Manager.

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The incident followed a new order issued by Justice Peter Odo Lifu of the Federal High Court, Abuja, purportedly restraining the Receiver from performing their duties.

Multiple sources described the development as unprecedented and unlawful, insisting that a High Court cannot override a superior court’s order.

The Court of Appeal, sitting in Lagos, had on November 27, 2025, granted FBNQuest Merchant Bank Limited and First Trustees Limited an interim injunction restraining Nestoil, Neconde Energy Limited, and their promoters from interfering with the Receiver/Manager.

The appellate court also stayed further proceedings at the lower court pending motion determination.

The dispute arises from credit facilities valued at over $1.01 billion and ₦430 billion as of September 30, 2025.

Justice Deinde Dipeolu of the Federal High Court, Lagos, previously granted a Mareva injunction freezing the companies’ assets and appointed Abubakar Sulu-Gambari (SAN) as Receiver/Manager, with enforcement support from the Nigeria Police, Nigerian Navy, and State Security Service.

The crisis intensified amid allegations that Chief Judge John Tsoho attempted to influence the reassignment of the case following resistance from Justice Dipeolu, who reportedly refused to issue rulings favourable to Nestoil and Neconde.

Insider sources claimed petitions by billionaire Ernest Azudialu-Obiejesi were used to justify transferring the matter to Justice Ambrose Lewis-Allagoa, described as a loyalist to the Chief Judge.

The dispute encompasses multiple cases, including Suit No. FHC/L/CS/2127/2025, where sweeping Mareva injunctions were issued to restrain the companies and their promoters.

Obiejesi alleged bias and misconduct by Justice Dipeolu, claiming inconsistent case assignments and fast-tracking of decisions undermined judicial impartiality.

Judiciary insiders dismissed the allegations as part of a strategy to facilitate administrative reassignment, raising concerns about external influence on sensitive litigation.

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The conflicting court orders have left the Nestoil Neconde dispute mired in uncertainty, with significant financial and legal ramifications for the companies, their creditors, and the broader corporate sector.

David Okere