Nigerian oil tycoon Ernest Azudialu-Obiejesi's Nestoil pays lenders another $40 million
Ernest Azudialu-Obiejesi's Nestoil has paid its lenders another $40 million under an EFCC-brokered plan, taking total repayments to $100 million.
Neconde Energy
EFCC transfers $60 million recovered from Ernest Azudialu-Obiejesi's Nestoil to lenders
Nestoil has paid $60 million to its lenders under an EFCC-brokered plan, ten weeks after the Supreme Court dissolved its asset freeze.
No respite for Ernest Azudialu-Obiejesi as court of appeal sacks Wole Olanipekun SAN as consortium of banks tighten their grip on Nestoil and Neconde
Nigeria’s appeal court says receivership has frozen the board’s authority, forcing Nestoil and Neconde to swap legal teams mid battle with lenders.
Nestoil, Neconde and Ernest Azudialu’s appeals suffer defeat as the Supreme Court orders them back to the Court of Appeal
The Supreme Court halted multiple appeals, directing parties back to the Court of Appeal and warning lawyers that debt recovery disputes should focus on repayment, not delays.