Nigerian Court Lifts $1bn Injunction Against Nestoil in Debt Recovery Case

The Federal High Court in Lagos vacated a Mareva injunction against Nestoil and its affiliate, Neconde Energy Limited, in a $1 billion debt recovery case. The injunction, initially granted by Justice Dehind Dipeolu, was lifted after widespread criticism.

Justice Daniel Osiagor declared the previous order null and void, allowing the case to proceed afresh. Defense counsel, led by Wole Olanipekun SAN, successfully argued for the order to be set aside.

The injunction aimed to secure alleged debt exposure beyond $1 billion as of September 30, 2025.