Nestoil Denies Bribery Allegations, Reaffirms Commitment To Integrity, Rule Of Law

Nestoil Limited has firmly denied what it described as “defamatory and unsubstantiated claims” being circulated on social media and by some individuals posing as journalists, insisting that the reports were false, malicious, and intended to mislead the public.

In a statement released through its Corporate Communications Department, the indigenous oil and gas company dismissed insinuations of bribery and judicial interference, describing them as “entirely baseless and orchestrated.”

“At no point has Nestoil undermined justice or influenced public or judicial officers through unethical means. We have always, and will always, adhere to due process and the rule of law,” the company stated.

Reaffirming its reputation for ethical corporate practice, Nestoil stressed that its operations are guided by transparency, regulatory compliance, and respect for the judicial process.

“Nestoil emphatically and unreservedly rejects any insinuation or suggestion that the company, its affiliates, or its representatives have ever engaged in improper payments or attempted to subvert the judicial process,” the statement read.

The company also addressed what it described as a “deliberate misrepresentation” of ongoing legal proceedings involving certain entities connected to First Bank of Nigeria (FBN). According to Nestoil, those entities secured an ex-parte order against Nestoil, its affiliate Neconde Energy Limited (Neconde), and some executives without prior notice or participation from the defendants, and have since exploited the situation to create a false impression of a takeover.

Nestoil explained that an ex-parte order is a temporary legal measure designed only to maintain the status quo pending a full hearing. However, it alleged that the FBN-related entities have “gone beyond the intent of the order by vandalizing third-party assets and sponsoring misleading reports of a purported takeover of Nestoil and Neconde.”

The company accused the parties involved of showing “blatant disregard for the judicial process” and of engaging in a “larger campaign to weaponize misinformation.” It said its legal team has already filed appropriate responses in court to refute the claims.

“The company and its affiliates have always acted within the bounds of the law and have never engaged in conduct that could prejudice the ongoing court proceedings. These actions and the related false narratives are not only unjust but also lack any legal or factual basis,” Nestoil stated.

The oil firm urged the public and the media to disregard sensational and anonymous online reports, warning that misinformation not only damages corporate reputations but also undermines public confidence in the justice system.

“We urge all concerned parties to rely solely on verified sources and to remain alert to the dangers posed by misinformation,” the statement added.

Reiterating its readiness to defend its reputation, Nestoil vowed to take all necessary legal action against individuals or organizations that continue to publish or amplify defamatory material.

“Nestoil is, and has always been, guided by an unyielding commitment to the highest standards of integrity, transparency, and ethical business conduct,” the company affirmed. “We operate strictly within all applicable legal and regulatory frameworks, and our longstanding adherence to these standards remains non-negotiable.”

The statement concluded with a strong message of resilience, “As we advance, we will vigorously defend our position through lawful means, remaining true to the values that define our organization.”