Corruption Watch: Whistleblower Claims Attempt to Compromise Nestoil Debt Litigation

A whistleblower has alleged a plot by powerful interest groups to pressure the Chief Judge of the Federal High Court, Justice John Tsoho, to transfer a multibillion-naira debt case involving oil and gas firm Nestoil Limited to another judge said to be “compromised.”

The case concerns the enforcement of a debt claim brought by FBNQuest Merchant Bank Limited and First Trustees Limited against Nestoil, its affiliate Neconde Energy Limited, and their principal promoters, Ernest Azudialu-Obiejesi and Nnenna Obiejesi.

Justice Deinde Dipeolu of the Federal High Court, Lagos, had in October granted a Mareva injunction restraining Nestoil, Neconde Energy, and their directors from dealing with their assets pending the determination of the substantive suit.

The judge also ordered the freezing of the defendants’ bank accounts and shares across more than 20 financial and other institutions, including Citibank Nigeria, GTBank, Stanbic IBTC, Polaris Bank, Providus Bank, Fidelity Bank, and the Central Securities and Clearing Systems (CSCS).

n addition, the court appointed Abubakar Sulu-Gambari (SAN) as receiver/manager to take possession of Nestoil’s headquarters at 41/42 Akin Adesola Street, Victoria Island, Lagos, and other identified assets belonging to the company and its affiliates.

Justice Dipeolu further directed the Nigeria Police Force, Nigerian Navy, and State Security Service (SSS) to assist in enforcing the takeover. He also ordered the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian National Petroleum Company Limited (NNPCL) to grant the receiver access to Nestoil’s interest in Oil Mining Lease (OML) 42, which the company jointly operates with NNPCL.

The matter was adjourned to 7 November 2025 for hearing of the substantive motion on notice.

Whistleblower’s Allegation

However, when the case came up for hearing on Friday, Justice Dipeolu informed parties that a petition alleging misconduct had been filed against him and forwarded to the Chief Judge. The development forced the adjournment of proceedings.

Sources told MoneyCentral that the petition was “part of an elaborate plot” to discredit and remove Justice Dipeolu from the case, allegedly to pave the way for a more pliable judge.

“As you know, Justice Dipeolu has a reputation for firmness and integrity,” the lawyer said. “He granted orders that sent a clear message to delinquent borrowers who have for years defaulted on loan obligations. Some powerful people are unhappy about this.”

The source alleged that those displeased with the ruling had drafted a petition accusing Justice Dipeolu of bias and were planning to pressure Chief Judge Tsoho to reassign the case.

“They want the Chief Judge to use his office to move the matter to a compromised judge who will vacate the existing orders and set Nestoil and Neconde free,” the source claimed.

The source further alleged that the conspirators had proposed a $5 million inducement to secure the reassignment, though he could not confirm whether the planned meeting with the Chief Judge in Abuja eventually took place.