Nestoil Limited has publicly clashed with Abubakar Sulu-Gambari, the appointed receiver/manager for Nestoil and Neconde Energy, following a Supreme Court ruling on April 10, 2026. The dispute centers on the interpretation and enforcement of court orders related to the companies' assets.

The Supreme Court's decision annulled an order from the Court of Appeal that had frozen the assets of Neconde and Nestoil due to alleged debt defaults. Nestoil argues that Sulu-Gambari is misrepresenting the apex court's ruling and is attempting to exercise powers without valid judicial backing.

In a statement, Nestoil asserted that the receiver "has completely lost all judicial cover for his purported receivership" and is now acting as an "interpreter of the law to hoodwink the general public." The oil firm highlighted that subsisting orders from the Federal High Court, Abuja Division, have restrained the receiver's powers since December 1, 2025.

Conversely, Abubakar Sulu-Gambari has dismissed claims that the court orders against Nestoil and Neconde have expired. In a rejoinder to an online editorial, he stated that the orders, initially granted by the Federal High Court on October 22, 2025, remain valid and subsisting. He clarified that proceedings were halted due to a petition against the presiding judge, as directed by the Chief Judge of the Federal High Court, which means the October 22, 2025 orders continue to be in force.

The legal entanglement originated from efforts by FBN Quest Merchant Bank and First Trustees to recover debts exceeding $1 billion and N430 billion, allegedly owed by Neconde and Nestoil, along with their principal promoters, Azudialu Obiejesi and Nnenna Azudialu-Obiejesi. Abubakar Sulu-Gambari was appointed receiver/manager to facilitate debt recovery.

Previously, a Mareva injunction issued by Justice Deinde Dipeolu of the Federal High Court, Lagos, had frozen the companies' accounts and shareholdings. The receiver had also taken possession of Nestoil’s headquarters on October 22, 2025. However, a subsequent order by Justice J. Osiagor on November 20, 2025, rescinded the receivership-enforcement order, a decision later reversed by the Court of Appeal on November 29, 2025.

Sulu-Gambari also denied allegations of taking possession of the companies' headquarters and attempting to disrupt oil production and export operations in Oil Mining Lease (OML) 42. He warned the public against engaging in any transactions with the companies without his express authorization and advised against relying on interpretations from anonymous online editorials.