Nestoil Limited, a leading player in Nigeria’s energy sector, has strongly denied recent allegations circulated by some online platforms, describing them as baseless and part of a deliberate attempt to tarnish the company’s reputation.
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In a firm rebuttal of what it termed a “coordinated campaign of defamatory and unsubstantiated claims,” the company dismissed any suggestion that it or its affiliates were involved in efforts to subvert the judicial process or influence public officials through unethical means.
In a statement issued over the weekend in Lagos, Nestoil reaffirmed its unwavering commitment to the rule of law and the highest ethical standards, rejecting outright any insinuation of corporate misconduct or unlawful payments.
The company described the publications as the handiwork of “shadowy interests purporting to be journalists” and online trolls, cautioning stakeholders against lending credence to what it called “a carefully orchestrated falsehood.”
The controversy, Nestoil explained, stems from a legal dispute involving entities associated with First Bank of Nigeria (FBN). It clarified issues surrounding an ex-parte order obtained against Nestoil, its affiliate Neconde Energy Limited, and several key executives, noting that the order was granted without prior notice to the defendants a procedural detail it said had been deliberately misrepresented.
While acknowledging that ex-parte orders are temporary measures meant only to preserve the status quo, Nestoil accused the FBN-linked entities of abusing the process by allegedly vandalising third-party assets in an apparent bid to exaggerate the scope of the court’s directive.
The company further alleged that those entities had sponsored or facilitated the spread of false reports suggesting a hostile takeover of the Nestoil Group — actions it described as a “blatant disregard for the integrity of the judicial process.”
Nestoil confirmed that it is actively defending its position in court and “vigorously refuting” the claims advanced by the FBN-related entities. It reiterated that all its operations have always been conducted strictly within the confines of the law and in a manner that respects ongoing judicial proceedings.
Reaffirming its determination to protect its corporate integrity, Nestoil urged the public, the media, and stakeholders to disregard the unfounded publications and resist being misled by those “intent on weaponising legal processes.”
The company concluded by stating that it reserves all its legal rights and is prepared to pursue appropriate remedies against individuals or organisations found responsible for propagating what it termed “malicious falsehoods,” stressing that it would not tolerate further attacks on its reputation or business interests.
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