Ernest Azudialu-Obiejesi’s Owned Multi Billion Dollar Nestoil Sealed Up Over Alleged Debt

<h4>Ernest Azudialu<&sol;h4>&NewLine;<p><img class&equals;"alignnone size-full wp-image-30835" src&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;wp-content&sol;uploads&sol;2025&sol;10&sol;nestoil-logo-1&period;jpeg" alt&equals;"Ernest Azudialu-Obiejesi's Owned Multi Billion Dollar Nestoil Sealed Up Over Alleged Debt" width&equals;"200" height&equals;"200" &sol;><br &sol;>&NewLine;<strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that Police operatives have sealed off the corporate headquarters of Nestoil Limited in Victoria Island&comma; Lagos&comma; after the company was placed under receivership by a consortium of lenders over a reported &dollar;1 billion debt&period;<&sol;p>&NewLine;<p>A Federal High Court sitting in Lagos had on October 22&comma; 2025&comma; issued an order of Mareva authorising First Trustees and its subsidiary&comma; FBNQuest Merchant Bank&comma; to take over the company’s assets&period;<&sol;p>&NewLine;<p>Justice D&period; I&period; Dipeolu issued the injunction against Nestoil Limited and its affiliate&comma; Neconde Energy Limited&comma; as well as Ernest Azudialu-Obiejesi and Nnenna Obiejesi&comma; the principal promoters&period;<&sol;p>&NewLine;<figure id&equals;"attachment&lowbar;30834" aria-describedby&equals;"caption-attachment-30834" style&equals;"width&colon; 275px" class&equals;"wp-caption alignnone"><img class&equals;"size-full wp-image-30834" src&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;wp-content&sol;uploads&sol;2025&sol;10&sol;Untitled-20&period;jpeg" alt&equals;"Ernest Azudialu-Obiejesi's Owned Multi Billion Dollar Nestoil Sealed Up Over Alleged Debt" width&equals;"275" height&equals;"183" &sol;><figcaption id&equals;"caption-attachment-30834" class&equals;"wp-caption-text"><em><strong>Ernest Azudialu-Obiejesi&&num;8217&semi;s Owns the Multi Billion Dollar Nestoil company<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;<p>Ernest Azudialu-Obiejesi established Nestoil in 1991&comma; an EPCC company specializing in pipeline construction and related facilities&comma; which has become Nigeria’s largest indigenous EPCC company in the oil and gas sector&period;<&sol;p>&NewLine;<p>Azudialu-Obiejesi also founded Neconde Energy Limited&comma; which operates OML 42&period; He is the founder and chairman of the Obijackson Foundation&comma; which focuses on education&comma; <a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">empowerment<&sol;a>&comma; skill acquisition&comma; infrastructure&comma; healthcare&comma; and cultural enrichment in Nigeria&period;<&sol;p>&NewLine;<p>He holds a doctorate in Business Administration from the International School of Management in Paris&period;<&sol;p>&NewLine;<figure id&equals;"attachment&lowbar;30836" aria-describedby&equals;"caption-attachment-30836" style&equals;"width&colon; 272px" class&equals;"wp-caption alignnone"><img class&equals;"size-full wp-image-30836" src&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;wp-content&sol;uploads&sol;2025&sol;10&sol;Untitled-21&period;jpeg" alt&equals;"Ernest Azudialu-Obiejesi's Owned Multi Billion Dollar Nestoil Sealed Up Over Alleged Debt" width&equals;"272" height&equals;"185" &sol;><figcaption id&equals;"caption-attachment-30836" class&equals;"wp-caption-text"><em><strong>Multi Billion Dollar Nestoil head office Sealed Up Over Alleged Debt<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;