The federal high court in Abuja has set aside ex parte orders restraining the Economic and Financial Crimes Commission (EFCC) from investigating Amaranta Oil and Gas Development Limited and Jonescreek Hydrocarbon Limited.
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Amaranta Oil and Gas Development Limited and Jonescreek Hydrocarbon Limited are affiliated to Nestoil Group.
In the order involving Jonescreek, the court said the ex-parte order made by the bench on February 25, 2026, preventing EFCC from probing the firm, has been vacated.
The court also set aside the ex-parte order of March 2, 2026, involving Amaranta Oil, opening the way for EFCC to investigate the companies for alleged criminal infractions.
Court documents showed that the suits filed by the companies listed the EFCC as the first defendant, alongside several financial institutions and entities, including FBNQuest Limited, First Bank of Nigeria Limited, Access Bank Plc, Zenith Bank Plc, Fidelity Bank Plc, and Africa Finance Corporation.
Other defendants in the matters include Glencore Energy Limited, Hydeco Energy Services Limited, Nestoil Limited, and Neconde Energy Limited.
The EFCC filed a motion on notice dated March 3, 2026, and filed on March 10, seeking to set aside the ex parte order granted by the court on March 2, 2026.
“UPON THE MOTION ON NOTICE dated the 3rd day of March, 2026 and filed on the 10th day of March, 2026 praying this Honourable Court for the following reliefs:- An order setting aside and/or discharging the Exparte order made by this Honourable Court on the 2nd day of March, 2026, restraining the 1st Respondent (EFCC) from freezing and/or investigating the Applicant and it’s bank accounts),” the document said.
“An order striking out this suit for want of jurisdiction. An order dismissing the suit for being an abuse of Court process. And for such further order(s) as this Honourable Court may deem fit to make in the circumstances.”
At the hearing, A.O. Mohammed, with B. Buhari, appeared for the EFCC, while Chino Obiagwu (SAN), alongside Miriam Balonwu and C. Emelumba, represented the plaintiff.
Other counsel present included V. Ogunde with Buchi Ofulue for the second to fifth defendants; Kehinde Wilkey for the sixth defendant; Ali Yakubu for the eighth defendant; A.T. Soremu for the 10th defendant; and C. Chukwu for the 12th defendant.
In its ruling delivered on April 15, 2026, the court granted the EFCC’s application.
The court subsequently ordered that the interim order made on March 2, 2026, be rescinded, vacated, and set aside.
On December 1, 2025, it was reported that the corporate offices of Nestoil Limited in Victoria Island, Lagos, was repossessed by a receiver following a “restorative injunction” by a court of appeal.
The company had been placed under receivership by a consortium of lenders over a reported $2 billion debt following a federal high court order.
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