Legal Battle Over Alleged $1B Loan Raises Concerns About Court Injunction Expiry

A legal battle unfolds as FBNQuest Merchant Bank secures a court injunction against Nestoil and Neconde Energy, freezing assets and operations related to an alleged $1 billion loan. The injunction, granted by Justice D. Dipeolu of the Federal High Court in Lagos, aimed to protect the interests of First Bank Nigeria PLC.

However, legal experts question the validity of the injunction as it may have automatically expired after 14 days. Abubakar Sulu Gambari reportedly took possession of Nestoil's office in Lagos amid the dispute.