Nigerian banks take over Nestoil over $1bn debt

Dailypost | 29-10-2025 03:22am |

Nigerian banks have taken over and placed Nestoil Limited under receivership over alleged debt amounting to $1 billion. The development led to the Nigeria Police Force sealing off the corporate headquarters of Nestoil Limited in Victoria Island, Lagos. A Federal High Court sitting in Lagos had on October 22, 2025, issued an order of Mareva

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