Receiver repossesses Nestoil offices as appeal court restores order
[NigerianEye - Nigeria] - 1er/12/2025
The corporate offices of Nestoil Limited in Victoria Island, Lagos, have been repossessed by the receiver following a “restorative injunction” by a court of appeal. The company had been placed under receivership by a consortium of lenders over a reported $2 billion debt following a federal high court order. However, Nestoil Limited and its sister company, Neconde Energy Limited, secured another high court injunction asking the receiver to stay action. In a motion ex-parte dated and filed on the November 26, 2025, FBN Merchant Bank Ltd and First Trustees Ltd sought the following order from (…)
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