The Supreme Court has annulled a previous order that froze the assets of Nestoil Limited, stating that the three-member panel of the appellate court exceeded its authority by granting an ex parte application against the company. This ruling underscores the limitations of appellate court powers in such matters. The decision is significant for Nestoil and its associated entity, Neconde Oil, as it allows them to regain control over their assets. The case highlights the judicial process surrounding asset management and the enforcement of court orders in Nigeria.
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