Police seal Nestoil headquarters as First Trustees seizes assets owned by firm, Azudialu-Obiejesi
✍️ Ronald Adamolekun, .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow, Class, Wp-Block-Co-Authors-Plus, Display Inline, .Wp-Block-Co-Authors-Plus-Avatar, Where Img, Height Auto Max-Width, Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar, Vertical-Align Middle .Wp-Block-Co-Authors-Plus-Avatar Is .Alignleft .Alignright📅 October 28, 2025 12:38 PM⏱️ 3 min read🕐 Scraped: October 28, 2025
Summary: Justice Dipeolu granted multiple orders freezing Nestoil bank accounts and shares across more than 20 financial institutions in Nigeria, including Citibank, GTBank, Fidelity Bank, Stanbic IBTC, Polaris Bank, Opay, and others.
Armed police officers sealed the Lagos headquarters of Nestoil Limited on Tuesday, following a Federal High Court order authorising First Trustees and its subsidiary, FBNQuest Merchant Bank, to take over the company’s assets due to an alleged multibillion-dollar debt default.
The enforcement followed a directive issued by Justice D. I. Dipeolu of the Federal High Court, Lagos Division, on 22 October 2025, granting a Mareva injunction against Nestoil Limited and its affiliate, Neconde Energy Limited, as w
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