Prosper Okoye
Nestoil Nigeria Limited and Neconde Energy Limited have dismissed media claims suggesting a Supreme Court decision had been reached in their ongoing legal dispute with a consortium of lenders.
In a statement on Tuesday, the companies said reports claiming winners or losers were “false and misleading” and misrepresented proceedings held at the Supreme Court on 12 January 2026.
Join our WhatsApp Channel“The Supreme Court has neither declared any party winner or loser, nor made any negative remark about any of the parties before it,” the statement said.
The dispute began in October 2025 when the lenders filed a suit at the Federal High Court in Lagos.
Proceedings at that court were later stayed following ex-parte orders obtained from the Court of Appeal, the companies said.
Nestoil and Neconde also rejected claims of disagreements with their legal representatives.
“It is important to debunk the falsehood of any misunderstanding, rift, or untrue demands from our lawyers being circulated in certain quarters and on social media,” the statement said.
“The sponsors of these falsehoods are obvious, and attacks on our respected Senior Counsel have become a recurring feature following court proceedings.”
The companies said they remained satisfied with the quality of legal representation and reaffirmed their confidence in the Nigerian judiciary.
“Our faith in the judiciary remains intact. Our trust in and alignment with our retained Senior Counsel also remain unshaken,” they said.
Top 5 Igbo Authorities In Nigeria’s Oil And Gas Industry
‘CBN’s Interest Rate Remains High, Choking Businesses’
Sterling HoldCo Records 157% Profit Surge, Plans ₦53bn Public Offer
The clarification comes amid widespread media coverage and social media speculation over the high-profile case, which involves multiple lenders and is closely watched by investors.
Prosper Okoye is a Correspondent and Research Writer at Prime Business Africa, a Nigerian journalist with experience in development reporting, public affairs, and policy-focused storytelling across Africa
