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Nigeria’s court reinstates seizure of Nestoil’s Lagos HQ, reversing earlier pause in debt recovery.
Nestoil Limited’s Lagos headquarters was repossessed on December 1, 2025, after Nigeria’s Court of Appeal reinstated a receiver’s authority, reversing a prior court order that had paused the asset seizure.
The decision, issued November 28, followed a legal standoff between the oil and gas firm and lenders including First Trustees Ltd and FBNQuest Merchant Bank, who sought to protect over $2 billion in debts.
The receivership, triggered by loan defaults amid falling oil prices and project delays, was enforced with heavily armed police securing the site.
A full appeal hearing is scheduled for December 4, 2025.
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El tribunal nigeriano restablece la incautación de la sede de Nestoil en Lagos, revirtiendo una pausa anterior en la recuperación de la deuda.