The management of Nestoil Limited and Neconde Energy Limited yesterday rejected what they described as false and misleading narratives circulating in sections of the print and online media over ongoing legal disputes with a consortium of lenders, insisting that no court has declared any winners or losers in the matters before it.

In a statement dated January 13, 2026, both companies said their attention had been drawn to what they termed sponsored posts following proceedings at the Supreme Court on January 12, 2026.

Specifically, the companies clarified that the apex court neither issued any adverse decision nor made negative remarks against any of the parties involved in the dispute.

According to the statement, the substantive suit was initiated by a consortium of lenders at the Federal High Court, Lagos Judicial Division. However, the proceedings at that court, it said, have since been stayed by ex-parte orders obtained from the Court of Appeal by the same lenders who filed the original action.

Nestoil and Neconde said that, out of respect for the Supreme Court and the judicial process, they would refrain from commenting on the merits of the case while proceedings remain ongoing.

Despite this restraint, the companies said they were compelled to address what they described as deliberate falsehoods being circulated in the public space. These, they said, include insinuations of misunderstandings, rifts, or untrue demands allegedly involving their legal representatives.

The management categorically denied such claims, describing them as baseless and misleading. They further alleged that the narratives appeared to be sponsored and calculated to exert pressure on their legal team, particularly their retained Senior Counsel.

“The attention of Nestoil Nigeria Limited (Nestoil) and Neconde Energy Limited (Neconde) has been drawn to various sponsored posts in the print and online media relating to the outcome of proceedings at the Supreme Court on 12th January, 2026, in respect of a suit initiated/originated on behalf of a consortium of lenders at the Federal High Court, Lagos Judicial Division.

“The proceedings at the said Federal High Court have been stayed by ex-parte orders obtained from the Court of Appeal by the same lenders that initiated the suit. As a mark of respect for the Supreme Court and responsibility, we will refrain from making comments in respect of the ongoing proceedings where the Supreme Court has neither declared any party winner or loser, nor did it make any negative remark or decision about any of the parties before it.

“It is however compelling that we debunk the falsehood of any misunderstanding, rift or untrue demands from our lawyers currently being peddled in certain quarters and viral posts/messages,” the companies stated.

Nestoil and Neconde stressed that they remain satisfied with the quality of legal representation they have received since the disputes were initiated by some lenders in October 2025. They described their counsel as eminent and said their confidence in the legal team remains intact.

The companies also reaffirmed their confidence in Nigeria’s judicial system, stating that their faith in the judiciary has not been shaken by the ongoing litigation. They emphasised their commitment to due process and expressed confidence that the courts would adjudicate the matters fairly.

The disputes, which are currently pending before different courts across the country, have attracted public attention in recent weeks, particularly following reports and commentary interpreting recent court proceedings as conclusive outcomes. Nestoil and Neconde said such interpretations were inaccurate and misleading.

“The associated insinuations in the posts are also denied. The sponsors of these falsehoods are obvious, and attacks on our respected Senior Counsel now tend to be a recurring feature in the wake of Court proceedings in respect of this dispute in what seems to be calculated attempts to intimidate, blackmail and discourage the eminent team of Counsel engaged by our Companies.

“Nestoil and Neconde appreciate the distinctive and stellar quality of legal representation they have received since these disputes were initiated by some lenders in Court in October, 2025, and which are now pending across different Courts in Nigeria.

“Our abiding faith in the Judiciary remains intact. Our fidelity to, trust in and alignment with our retained external Senior Counsel also remain unperturbed,” the statement noted.

Source; The Nation News