Nestoil Vigorously Refutes Defamation, Pledges Legal Defense in FBN Dispute

Nestoil Limited, a significant player in the energy sector, has said recent allegations circulated by certain online outlets are entirely without merit and represent a targeted effort to undermine the company’s reputation.

In a robust defense against what it terms a coordinated campaign of defamatory and unsubstantiated claims, the company categorically repudiated assertions linking the company or its affiliates to any attempts to subvert the judicial process or influence public officials through unethical means.

Nestoil, in a statement at the weekend in Lagos, reaffirmed its unyielding commitment to the rule of law and stringent ethical standards while unequivocally rejecting any suggestion of corporate impropriety or engagement in unlawful payments.

The company depicted the publications as the work of “shadowy interests purporting to be journalists” and online trolls and cautioned stakeholders against lending credence to what it described as a carefully orchestrated falsehood.

The controversy revolves around a legal dispute involving entities associated with FBN (First Bank of Nigeria).

Nestoil sought to clarify the situation surrounding an ex-parte order obtained against it, its affiliate Neconde Energy Limited and several key executives. The company explained that the order was secured without prior notice to the defendants, a critical procedural detail it suggests has been purposefully misrepresented.

While acknowledging that ex-parte orders are temporary tools intended to merely preserve a matter’s status quo, Nestoil levied a serious accusation against the FBN-linked entities. It alleged they had transgressed the proper use of the temporary order by proceeding to vandalise third-party assets in a move seemingly designed to dramatically inflate the appearance and enforcement of the judicial action.

Furthermore, Nestoil stated that these entities have either sponsored or encouraged the dissemination of false reports alleging a hostile takeover of the energy group, an act it views as a blatant disregard for the integrity of the judicial process.

Nestoil confirmed it is actively presenting its case to the courts and vigorously refuting the claims advanced by the FBN entities. The group reiterated that its operations have always remained strictly within the boundaries of the law and that it has never engaged in conduct that could prejudice ongoing court proceedings.

In a clear signal of its intention to defend its corporate honour, Nestoil urged all members of the public, the media and stakeholders to disregard the unfounded publications originating from those intent on abusing legal mechanisms.

The company affirmed it reserves all its legal rights and is prepared to pursue any available legal remedy against persons or entities responsible for disseminating such malicious falsehoods, thus drawing a clear line in the sand against what it perceives as an unwarranted attack on its business and reputation.