Police have shut the corporate headquarters of Nestoil Limited in Lagos, after the company was placed under receivership by a consortium of lenders over a reported $1 billion debt.
A federal high court in Lagos had issued an order of Mareva authorising First Trustees and its subsidiary, FBNQuest Merchant Bank, to take over the company’s assets, on October 22, 2025.
Justice D. I. Dipeolu, who presided over the case, issued the injunction against the defendants — Nestoil Limited and its affiliate, Neconde Energy Limited, as well as Ernest Azudialu-Obiejesi and Nnenna Obiejesi, the..For more Details, Read full original.
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