Lagos, Nigeria – Big wahala don land for Nestoil Limited as armed police officers don seal the company headquarters for Victoria Island on Tuesday, October 28, 2025, following serious court order wey authorize take over dem assets o. This one no be play matter, oh!
As e be, the Federal High Court, Lagos Division, wey Justice D. I. Dipeolu dey preside over, don give order wey allow First Trustees and their sidekick, FBNQuest Merchant Bank, to yank away Nestoil property because of alleged multibillion-dollar debt wey dey hang for neck like bad aura.
No be small gobe! Nestoil and their sister company, Neconde Energy, plus dem promoters, Ernest Azudialu-Obiejesi and Nnenna Obiejesi, dey run balance of over $1 billion (no be chicken change) and ₦430 billion as of September 30, 2025. Dem dey owe plenty banks, wey Justice Dipeolu don freeze their accounts and shares. E be like movie wey no gree finish.
The court order don scatter the place, as e include banks like Citibank, GTBank, Fidelity Bank, and other financial giants. Justice Dipeolu don tell dem to freeze every of Nestoil accounts wey supposed dey dance na. Even their property for 41/42 Akin Adesola Street don catch fire (well, not literally, but you know wah I mean).
The court order clear say make the police assist the receiver-manager, Abubakar Sulu-Gambari, for the takeover wahala. Na serious matter wey dey unfold here as the police don show sharp reflex, sealing Nestoil head office with plenty armed officers blocking those wey fit want sneak in or out.
As the wahala dey hot, we no fit forget say the Federal High Court don adjourn the main case to November 7, 2025. Guess who no don talk since? You gree? Nestoil and Mr. Azudialu-Obiejesi! No word, no noise, nothing. E be like say dem don swallow tongue!
This matter dey highlight wahala wey dey follow big companies wey owe too much. Na so dem go dey live life like say money no dey until it go land bad for them. We dey watch as e go unfold. Stay tuned for more gist!
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