Justice Daniel Osiagor of the Federal High Court, Lagos, has adjourned the hearing of a joinder application in the alleged $1 billion debt suit filed by FBNQuest Merchant Bank Limited and First Trustees Limited against Nestoil Limited, Neconde Energy Limited, Dr Ernest Azudialu-Obiejesi, and Nnenna Obiejesi.
Justice Osiagor adjourned the application on Tuesday, rescheduling the hearing date to December 11, 2025.
The adjournment followed the plaintiffs’ late filing of a counter-affidavit to the joinder request earlier this morning.
The application was brought by a group of financial institutions, Glencore Energy UK Limited, Fidelity Bank Plc, Mauritius Commercial Bank Limited, and African Finance Corporation (AFC), seeking to be joined as necessary parties in the suit.
Their request stems from the fallout of an earlier Mareva injunction granted by the court, which froze the assets of Nestoil, its affiliates, and directors over an alleged $1 billion debt.
A receiver-manager had also been appointed over the defendants’ assets before the order was later discharged.
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At yesterday’s proceedings, counsel for the plaintiffs, Mr Babajide Koku, SAN, informed the court that a counter-affidavit had only just been filed.
However, counsel to the proposed parties, Mr Oluwafemi Oyewole, SAN, told the court he had not yet been served with the document.
Justice Osiagor consequently adjourned the hearing to allow proper service.
It will be recalled that on November 20, 2025, Justice Osiagor vacated the Mareva injunction earlier granted by Justice Dehinde Dipeolu, which had frozen the assets of Nestoil, Neconde Energy, and their promoters across more than 20 financial institutions.
The judge held that the ex parte order had lapsed, having spent 14 days after the filing of a motion seeking to set it aside, in line with the Federal High Court Rules.
The matter had been reassigned to Justice Osiagor by the Chief Judge of the Federal High Court following administrative directives.
