Nestoil Archives

First Bank lays off 100 senior staff in restructuring move

Nestoil to sue First Bank, media houses over ‘false dividend suspension’ reports

Nestoil Limited has dismissed recent media reports suggesting that banks’ suspension of dividend payments was linked to an alleged debt owed by the company, describing the narrative as a deliberate attempt to mislead the public and damage its reputation. The company also accused First Bank of Nigeria and its leadership of orchestrating a coordinated media […]

aadelekepdnlimited-com
5th May 2026
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108 Views

Business

FBNQuest appeals ruling unfreezing Nestoil’s alleged $1bn assets

FBNQuest Merchant Bank Limited and First Trustees Limited have asked the Court of Appeal, Lagos, to restrain Nestoil Limited, Neconde Energy Limited and two others from taking any steps to enforce the reversal of a Mareva injunction (freezing order) on their properties, citing alleged $1.01 billion asset dissipation plans by the respondents. This is contained […]

aadelekepdnlimited-com
21st November 2025
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185 Views

Business

Lenders take control of Nestoil amid $1b debt dispute

A group of Nigerian lenders has placed Nestoil Limited, a major oil and gas service company, under receivership due to an outstanding debt of approximately $1 billion. The move comes after a Federal High Court order was issued on October 22, 2025. The Federal High Court in Lagos issued a Mareva injunction, an asset-freeze order, […]

monwubukepdnlimited-com
28th October 2025
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228 Views

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Tag: Nestoil

Nestoil to sue First Bank, media houses over ‘false dividend suspension’ reports

FBNQuest appeals ruling unfreezing Nestoil’s alleged $1bn assets

Lenders take control of Nestoil amid $1b debt dispute

Jigawa residents demand ban on betting activities to.

Tin Can port generates ₦1.60trn revenue, exceeds 2025.

African currencies depreciate amid US-Iran crisis — Report

Trump, Iran nearing historic deal to reopen Strait.

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