• Attempting to undermine final judgment of the Supreme Court
Emmanuel Addeh in Abuja
The attention of Nestoil Limited, Neconde Energy Ltd. and other interested stakeholders has been drawn to the Press Release issued by Mr. Abubakar Sulu-Gambari, SAN, purporting to act as Receiver/Manager over Nestoil Limited and certain assets of Neconde Energy Limited.
Whilst the said publication admits that the Supreme Court has set aside the decision of the Court of Appeal that granted injunctive reliefs in favour of the purported receiver/manager, he has asked the public to proceed as if the decision of the Supreme Court has no bearing or effects on his exercise of powers as receiver manager. This same person had, upon issuance of ex parte orders by the Federal High Court and Court of Appeal (now set aside by the Supreme Court) taken out paid publications indicating that those inappropriate (and now declared as unlawful) orders implied that the public should only deal with him. Now that he has completely lost all judicial cover for his purported receivership, he has resorted to assuming the status of interpreter of the law to hoodwink the general public. If he did not need the orders that have now been set aside to function, why did he and his appointors apply to obtain them in the first place, especially in clandestine manners that the Supreme Court has now berated.
For the avoidance of doubt, while the Supreme Court in SC/CV/1130/2025 set aside all the ex parte Orders of the Court of Appeal dated 27 November 2025 in favour of Mr. Sulu-Gambari, the same Supreme Court, by its previous judgment of 10th April 2026 in SC/CV/46/2026 held that the authority of the purported receiver to act is at the heart of and subject of interrogation of the suit filed by his appointors at the Federal High Court and he therefore cannot purport to exercise powers of a receiver in the face of such suit. The Supreme Court reiterated similar sentiments in its judgment of 1st June, 2026 whilst setting aside the ex parte orders which gave Mr. Sulu-Gambari judicial cover by holding that the orders overreached the pending action at the Federal High Court and were unconstitutional or in breach of mandatory constitutional stipulations.
For completion, Mr. Sulu-Gambari has deliberately concealed or failed to disclose that the exercise of any powers purportedly arising from the alleged Deeds of Appointment has since been restrained, suspended and placed in abeyance by subsisting Orders of the Federal High Court, Abuja Division, presided over by Hon. Justice P. O Lifu in Suit No. FHC/ABJ/CS/2534/2025 since December 1, 2025. Mr. Sulu-Gambari is a defendant in that suit in person, he is aware of the orders and the orders are extant and unchallenged till date.
Consequently, any assertion that the Receiver/Manager is at liberty to exercise unfettered powers over Nestoil Limited, Neconde Energy Limited or their assets is inaccurate, misleading and contrary to the present legal realities.
Mr. Sulu-Gambari, by his mere saying so cannot re-create orders already set aside by the Supreme Court or re-enact a scenario as if the Court orders permitting him to act are still extant. Nestoil and Neconde reserve all their rights in the circumstances. Whilst the actions and recalcitrance of Mr. Sulu-Gambari, SAN will be addressed at the relevant quarters, the public, financial institutions, contractors, regulators and all stakeholders are therefore therefore advised to remain guided accordingly.
Signed: Management
