Nestoil Limited in Receivership: Response to Editorial in The Guardian

The Receiver/Manager of Nestoil Limited and Neconde Energy Limited has responded to an online editorial published in The Guardian Nigeria on November 14, 2025. The editorial, which did not name an author, was titled "Enforcement of expired ex parte orders against Nestoil, Neconde unlawful."

The editorial quoted opinions from unnamed legal experts about the status of the Ex-parte Orders dated October 22, 2025. These orders were obtained from the Federal High Court in Suit No.: FHC/L/CS/2127/2025. The piece claimed these orders had expired due to time limits set by Order 26 Rule 10 (1) and (3) of the Federal High Court (Civil Procedure) Rules, 2019.

It was also claimed that the Receiver/Manager took over the companies’ head office in Victoria Island and tried to disrupt crude oil production and exports in OML 42. This claim is not true and can lead to legal consequences for spreading false information. The writers of the editorial may want to seek legal advice from their unnamed experts on this matter.

Regardless, the undersigned was appointed Receiver/Manager of the companies based on the Deeds of Appointment signed on August 19, 2025. This appointment was announced in the Punch and Guardian Newspapers on October 29, 2025, on pages 45-46 and 32-33.

It is important to note that the Federal High Court's Orders, which the editorial referenced, are under the court's direction. After a petition from some of the defendants against the presiding judge, the court proceedings were paused as directed by the Honourable Chief Judge of the Federal High Court. This means the Orders from October 22, 2025, remain valid.

The public should avoid taking any legal advice from an unidentified online editorial, even if it comes from a newspaper. Meanwhile, the public is reminded that any dealings with anyone claiming to represent Nestoil Limited or Neconde Energy Limited, especially regarding projects or contracts in oil, gas, power, and infrastructure, without the knowledge and approval of the Receiver/Manager will be illegal and could lead to legal action. Please be careful.

For any questions or requests for more information, reach out to the Receiver/Manager at [email protected].

Signed
Abubakar Sulu-Gambari, SAN, MCIArb
Ciroma of Ilorin
Receiver/Manager.