Today, 20 November 2025, the Federal High Court, Lagos vacated the sweeping ex parte order previously obtained by FBN Quest Merchant Bank and First Trustees Limited against Nestoil Limited and Neconde Energy Limited.
The Court’s decision was anchored on the principle that ex parte orders are intended solely to preserve the subject matter of litigation for a limited period, not to be held in perpetuity. The attempt by the FBN entities to have the Court stay further proceedings while keeping the ex parte order in place was found to be inconsistent with this principle.
Separately, it is important to note that the ex parte order had originally been obtained by the FBN entities through suppression of material facts and without the knowledge or participation of Nestoil and Neconde.
With the vacation of the order, Nestoil and Neconde have now been restored to full control of their affairs.
Nestoil and Neconde remain firmly committed to transparency, lawful business practices, and the highest standards of corporate governance. Both companies will continue to focus on delivering value to their stakeholders and contributing positively to Nigeria’s energy sector.
