Nestoil Limited and Neconde Energy Ltd. have challenged recent claims made by a court-appointed receiver, Abubakar Sulu-Gambari, SAN, insisting that his authority has been invalidated following a series of Supreme Court decisions.
The companies stated that the receiver’s public notice suggesting he still holds unrestricted control over their assets is misleading and inconsistent with the current legal position.
According to the firms, the Supreme Court has already set aside earlier Court of Appeal orders that granted injunctive reliefs supporting the receiver’s appointment. They argued that those orders, which initially formed the basis of his authority, no longer have legal effect.
They further referenced additional Supreme Court rulings which they say confirmed that the receiver’s powers remain under judicial scrutiny in ongoing proceedings at the Federal High Court. The companies also pointed to existing restraining orders issued by the Abuja Division of the Federal High Court, which they claim suspend any actions based on the disputed appointment.
Nestoil and Neconde maintained that any assertion of full operational control by the receiver is legally inaccurate, stressing that the matter is still active before the courts and subject to further determination.
The companies urged financial institutions, contractors, regulators, and other stakeholders to disregard claims suggesting otherwise, stating that they reserve all legal rights in the dispute.
They also indicated that further steps may be taken in response to what they described as continued misrepresentation of court rulings.
