Police have sealed off the corporate headquarters of Nestoil Limited in Victoria Island, Lagos, after the company was placed under receivership by a consortium of lenders over a reported $1 billion debt.
A federal high court sitting in Lagos had on October 22, 2025 issued an order of Mareva authorising First Trustees and its subsidiary, FBNQuest Merchant Bank, to take over the company’s assets.
Justice D. I. Dipeolu issued the injunction against Nestoil Limited and its affiliate, Neconde Energy Limited, as well as Ernest Azudialu-Obiejesi and Nnenna Obiejesi, the principal promoters.
The Permanent Chairman of the Southern Nigerian Traditional Rulers Council (SNTRC), Arole Oodua Olofin…
As Nigeria commemorated Democracy Day, the leadership of the Geneith Health Competition (GHC) joined millions…
Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, has congratulated some…
As Nigeria marks another historic June 12 Democracy Day, prominent political leader, Aarebirin Hon. Princess…
OLALEKAN ONI As Nigeria marks another Democracy Day, the Executive Chairman of Ikeja Local Government,…
JMG Limited, Nigeria’s foremost integrated electromechanical solutions company is celebrating 28 years of innovation, growth, and industry leadership, marking…