Police Seal Nestoil HQ in Lagos as $1bn Debt Triggers Receivership
[NigerianEye - Nigeria] - 28/10/2025
Police have sealed off the corporate headquarters of Nestoil Limited in Victoria Island, Lagos, following a court-ordered takeover of the company’s assets by a consortium of lenders over an alleged $1 billion debt.The dramatic enforcement action came after a Federal High Court in Lagos, on October 22, 2025, granted a Mareva injunction authorizing First Trustees Nigeria Limited and its subsidiary, FBNQuest Merchant Bank, to assume control of Nestoil’s assets as receiver-managers.The order empowers the financial institutions to preserve and manage the company’s properties including its (…)
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