Nestoil promoters accused of mounting strain to reverse courtroom order as choose halts proceedings over petition
The Federal Excessive Courtroom in Lagos, presided over by Justice Deinde Dipeolu, has reportedly suspended proceedings in a multi-billion-naira debt restoration go well with involving oil and fuel firm Nestoil Restricted and FBNQuest Merchant Bank Restricted, following a petition of bias filed towards the choose by Nestoil’s chairman, Ernest Azudialu-Obiejesi.
In line with Premium Occasions, Justice Dipeolu knowledgeable events in courtroom final Friday {that a} petition alleging judicial misconduct had been submitted to the Chief Decide of the Federal Excessive Courtroom, Justice John Tsoho, forcing an abrupt adjournment of the matter.
The petition, reportedly signed by Mr. Azudialu-Obiejesi, accused Justice Dipeolu of granting “stifling and overreaching orders on the ex parte stage” and performing with bias in dealing with the debt dispute.
Stress on the Chief Decide
In a associated improvement, TheCable additionally reported that promoters of Nestoil have allegedly been mounting strain on the Chief Decide to reverse the Mareva injunction earlier granted by Justice Dipeolu or to reassign the case to a different choose.
- In line with TheCable’s sources throughout the judiciary, the strain marketing campaign intensified after Justice Dipeolu refused to fluctuate or droop his earlier orders.
- The report added that some prime attorneys have been allegedly linked to plans to safe a “beneficial” choose if Justice Dipeolu withdraws from the matter.
- In addition they acknowledged that the title of the “proposed choose” was disclosed to the net paper together with different weighty allegations whose particulars it mentioned, “can’t be revealed for authorized causes”.
Premium Occasions additionally cited a whistleblower’s account alleging makes an attempt to switch the case to what was described as a “extra pliable” choose.
Judicial insiders quoted by the platform mentioned the choose was focused exactly as a result of he “refused to do anybody’s bidding.”
Background to the case
The controversy stems from a Mareva injunction issued on October 22, 2025, by Justice Dipeolu, which froze Nestoil’s property, bank accounts, and shares throughout greater than 20 Nigerian monetary establishments.
The order was obtained by FBNQuest Merchant Bank Restricted and First Trustees Restricted, each subsidiaries of First Bank of Nigeria Restricted, over an alleged debt of $1.01 billion and N430 billion owed by Nestoil, its affiliate Neconde Vitality Restricted, and their promoters, Ernest and Nnenna Azudialu-Obiejesi.
- Courtroom filings seen by a number of media retailers point out that the credit score services have been prolonged to the Nestoil-linked firms beneath the Obijackson Group, secured by property, shares, and oil-field pursuits.
- Justice Dipeolu additionally appointed Abubakar Sulu-Gambari (SAN) as receiver-manager, granting him authority to take possession of Nestoil’s head workplace at 41/42 Akin Adesola Road, Victoria Island, Lagos, and different recognized properties.
- The order directed the Nigeria Police Drive, Nigerian Navy, and State Safety Service (SSS) to help within the enforcement.
Following the order, armed cops reportedly sealed Nestoil’s headquarters in Lagos in late October—an motion that underscored the size of the dispute and the courtroom’s readiness to implement compliance.
What we all know thus far
Each Premium Occasions and TheCable report that the debt enforcement motion, the following petition towards the choose, and the alleged marketing campaign to affect the Chief Decide at the moment are on the centre of intense authorized and moral scrutiny.
On the final listening to, Justice Dipeolu informed the events that, as a result of pending petition earlier than the Chief Decide, he would chorus from taking additional steps within the matter till the grievance was addressed.
In the meantime, Nestoil has filed a separate utility earlier than the Federal Excessive Courtroom, Abuja, looking for to put aside the Lagos Mareva order and to halt enforcement actions by the receiver-manager.
What’s at stake
The Nestoil-FBNQuest case is without doubt one of the largest business disputes at the moment earlier than Nigeria’s Federal Excessive Courtroom, with liabilities exceeding N1 trillion in mixed naira and dollar-denominated obligations.
The unfolding occasions might form future judicial dealing with of high-stakes debt enforcement circumstances involving company debtors and monetary establishments.