Nestoil, Neconde Reject ‘False, Misleading’ Reports on Supreme Court Proceedings

•Say apex court declared no winners, losers in lenders’ dispute

•Deny rift with lawyers, allege attempts to intimidate counsel

Nestoil Nigeria Limited and Neconde Energy Limited have dismissed what they described as false and misleading narratives circulating in sections of the print and online media over an ongoing legal dispute involving a consortium of lenders, insisting that the Supreme Court has not reached any decision on the merits of the case.

In a statement issued on January 13, 2026, the management of both companies said their attention had been drawn to sponsored reports and viral posts purporting to interpret proceedings at the Supreme Court held on January 12, 2026, as conclusive.

They stressed that the apex court neither declared any party a winner or loser nor made any adverse remarks against any of the parties involved.

The companies explained that the dispute originated from a suit filed by a consortium of lenders at the Federal High Court, Lagos Judicial Division. However, proceedings at that court, they explained, have been stayed following ex-parte orders obtained from the Court of Appeal by the same lenders that instituted the action.

Besides, Nestoil and Neconde said they would refrain from commenting on the substance of the matter out of respect for the Supreme Court and the ongoing judicial process.

“The attention of Nestoil Nigeria Limited (Nestoil) and Neconde Energy Limited (Neconde) has been drawn to various sponsored posts in the print and online media relating to the outcome of proceedings at the Supreme Court on 12th January, 2026, in respect of a suit initiated/originated on behalf of a consortium of lenders at the Federal High Court, Lagos Judicial Division.

“The proceedings at the said Federal High Court have been stayed by ex-parte orders obtained from the Court of Appeal by the same lenders that initiated the suit. As a mark of respect for the Supreme Court and responsibility, we will refrain from making comments in respect of the ongoing proceedings where the Supreme Court has neither declared any party winner or loser, nor did it make any negative remark or decision about any of the parties before it,” the statement stressed.

But despite this restraint, the companies said it had become necessary to address what they termed deliberate falsehoods being peddled in the public space. They specifically denied insinuations suggesting misunderstandings, rifts, or untrue demands involving their legal representatives, describing such claims as unfounded and misleading.

According to the statement, associated insinuations in the reports were also rejected, with the companies alleging that the sponsors of the narratives were obvious. They noted that attacks on their retained Senior Counsel had become a recurring feature following court proceedings related to the dispute, which they characterised as calculated attempts to intimidate, blackmail, or discourage their legal team.

Nestoil and Neconde said they remained satisfied with the quality of legal representation they have received since the disputes were initiated by some lenders in October 2025, noting that the matters are currently pending before different courts across the country. They described their counsel as providing distinctive and stellar representation.

The companies reaffirmed their confidence in the Nigerian judiciary and said their trust in, and alignment with, their external Senior Counsel remained unshaken as the legal processes continue.

“It is however compelling that we debunk the falsehood of any misunderstanding, rift or untrue demands from our lawyers currently being peddled in certain quarters and viral posts/messages. The associated insinuations in the posts are also denied.

“The sponsors of these falsehoods are obvious, and attacks on our respected Senior Counsel now tend to be a recurring feature in the wake of Court proceedings in respect of this dispute in what seems to be calculated attempts to intimidate, blackmail and discourage the eminent team of Counsel engaged by our Companies.

“Nestoil and Neconde appreciate the distinctive and stellar quality of legal representation they have received since these disputes were initiated by some lenders in Court in October, 2025, and which are now pending across different Courts in Nigeria. Our abiding faith in the Judiciary remains intact. Our fidelity to, trust in and alignment with our retained external Senior Counsel also remain unperturbed,” the companies added.