Nestoil Limited – In Receivership: Receiver/ Manager’s Rejoinder to article in The Guardian

Nestoil Limited – In Receivership: Receiver/ Manager’s Rejoinder to article in The Guardian

NESTOIL LIMITED- IN RECEIVERSHIP RECEIVER/MANAGER’S REJOINDER TO THE ONLINE EDITORIAL IN THE GUARDIAN NEWSPAPER DATED NOVEMBER 14, 2025

The attention of the Receiver/Manager of NESTOIL LIMITED and NECONDE ENERGY LIMITED has been drawn to the online (unauthored) newspaper editorial published in the Guardian Nigeria on November 14, 2025 titled “Enforcement of expired ex parte orders against Nestoil, Neconde unlawful”.

The said editorial copiously quoted alleged “opinions” from unidentified and unnamed “legal experts” on the status of the Ex-parte Orders of October 22, 2025 obtained from the Federal High Court in Suit No.: FHC/L/CS/2127/2025 in which it is claimed that the said Orders have expired by effluxion of time allegedly pursuant to Order 26 Rule 10 (1) and (3) of the Federal High Court (Civil Procedure) Rules, 2019.

It is also alleged that the Receiver/Manager took possession of the companies’ head office in Victoria Island and “attempted to disrupt crude oil production and export activities in OML 42”, a claim which is not only false and unfounded but can potentially give rise to liability for false and malicious publication.

The writers of the editorial may wish to take legal advice from their “legal experts” in this wise.

Be that as it may, the undersigned was appointed Receiver/Manager over the companies pursuant to the Deeds of Appointment dated August 19, 2025, notification of which was made at pages 45-46 and 32-33 of the Punch and Guardian Newspapers of October 29, 2025.

It is pertinent to note that the said Order of the Federal High Court (Civil Procedure) Rules which he editorial is purportedly based upon is clearly subject to the direction of the Court as noted by the writer. Following a petition by some of the Defendants against the presiding Judge, proceedings in the matter was halted in compliance with the directive of the Honourable Chief Judge of the Federal High Court pending the determination of the petition, with the resultant effect that the Orders of Court dated October 22, 2025 remain in force.

Therefore, the public is advised not to take any legal advice from an unidentified/unnamed online editorial howbeit coming from any newspaper.

In the meantime, the general public is reminded that any and all subsequent dealings with any persons purportedly acting on behalf of NESTOIL LIMITED and/or NECONDE ENERGY LIMITED and/or in relation to matters pertaining to the said companies particularly with respect to projects, contracts and commitments in the oil, gas, power and infrastructure sectors without the knowledge, privity and express authorization of the appointed Receiver/Manager will be ILLEGAL and shall give rise to legal implications. PLEASE REMAIN GUIDED.

All enquiries or requests for clarification or further information may be directed to the Receiver/Manager at [email protected].

Signed ABUBAKAR SULU-GAMBARI, SAN, MCIArb CIROMA OF ILORIN RECEIVER/MANAGER.