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    Justice Dipeolu, his Egregious Judicial Decision on Nestoil Case and fake allegation of $5m bribe for Justice Tsoho

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    Talking of judges that doexercise judicial impunity and rascality in Nigeria today, the name of Justice Isaac Deinde Dipeolu of the Federal High Court in Lagos State will always make the list as a result of his abuse of judicial power.

     

    Finding by this newspaper indicated that Justice Isaac Deinde Dipeolu is a man with no integrity and also with shocking and remarkably bad judicial decision, often considered a serious error or abuse of power.

     

    Two years ago, Justice Dipeolu was accused of gross judicial impunity while handling the forfeiture of assets case of former CBN Governor, Mr. Godwin Emefiele, and he was compelled to excuse himself from the case immediately there were media reports that he had been financially induced.

     

    Apart from that, Dipeolu is still facing media back lashes over his October 25, 2025 Order that Lotus Bank should take over the assets both movable and unmovable of Unpacked Limited , a firm.ownes by Feyikemi Abiodu and guaranteed by Oluwafeni Badewole.

     

    The public outcries over that are that there were many technical errors in the ruling.

     

    Over the time, Justice Dipeolu has made several wrongful convictions. In most of his rulings especially in criminal cases, the judge has made judicial decisions that have led to innocent persons being convicted even though they would later get fair hearings at higher courts.

     

    Judges are allowed to use their discretion in few cases but for Justice Deinde Dipeolu, it’s an abuse of discretion. Some of his discretions are grossly unfair and unreasonable.

     

    Apart from undermining justice, Justice Isaac Dipeolu’s egregious decisions have eroded trust in the Nigeria legal system, and because he isn’t checked by the authorities, his judicial rascality has damaged the country’s judiciary’s reputation. Also, his reputation has been badly harned as a result of his recklessness.

     

    To get remedies from the bad decisions of Justice Dipeolu, many victims have had to appeal his judicial decisions at higher courts where most of his decisions had been reviewed and faulted by higher judges.

     

    The latest judicial rascality of Justice Isaac Deinde Dipeolu is the granting of ex parte orders in the Nestoil case where he wrongly appointed a receiver/manager over Neconde’s interest in OML 42.

     

    And according to judicial analysts, the judge’s decision was the height of judicial impunity because the Order was one-sided as it was granted without hearing the story of the person or persons against whom the order is made.

     

    Analysts who have roundly condemned the inactions of Justice Dipeolu over the Order stated that he erred as he only had the power to grant such Orders in cases of exceptional urgency where the subject matter of the suit will likely be destroyed or dissipated irretrievably if the order was not made immediately.

     

    Recall that the suit was brought based on the alleged default by Nestoil in the payment of loans granted by a group of banks to the company. Whereas, Nestoil and its promoters had provided various assets as collateral to secure the repayment of the Nestoil loans.

     

    However, the Nestoil lenders appointed First Trustees to hold the collateral

    on their behalf. The Nestoil lenders also reserved the power, acting through First Trustees, to appoint a receiver/manager to take over Nestoil and the Nestoil loan collateral if Nestoil defaulted in the repayment of the Nestoil loans.

     

    Perhaps Justice Isaac Dipeolu has forgotten that under the Law, the Nestoil lenders exercised this power by appointing Mr. Abubakar Sulu-Gambari SAN as receiver/manager pursuant to a deed of appointment dated August 21, 2025.

     

    It’s important to inform the public that prior to the recent events, the Nestoil lenders requested that Neconde’s interest in OML 42 should be provided as additional collateral for the repayment of the Nestoil loans. But Neconde had used its interest in OML 42 as a collateral to secure the loans it obtained from another group of banks. Therefore, in law and common sense, the only way Neconde may provide its interest in OML 42 as additional collateral to the Nestoil lenders was if (a)

    the Neconde lenders permitted Neconde to do so, and (b) the collateral taken by the Nestoil lenders in OML 42 will be inferior to the collateral already held by the Neconde lenders, i.e., the Nestoil lenders will exercise their right only AFTER the Neconde lenders have exercised their right over the collateral in the event of a default. Neconde and the Nestoil lenders signed an agreement on this

    basis. In this instance, this would have created a “second ranking charge” for the Nestoil lenders.

     

    It’s also important to state that the Neconde lenders refused to permit Neconde to create a second ranking charge in favour of the Nestoil lenders. So, the Nestoil lenders did not obtain a second ranking charge over Neconde’s

    interest in OML 42 or any of Neconde’s assets.

     

    These facts are in the documents First Trustees presented to Hon. Justice Dideolu and on the basis of which he made the ex parte orders but, he made the following order against Neconde as order no. 5: “That an order is hereby made granting leave to the Receiver/Manager to take over the 2nd

    Defendant’s [Neconde] office situate at 41/42 Akin Adesola Street, Victoria Island, Lagos; any other asset of the 2nd Defendant wherever it may be found within the jurisdiction of this Court; and/or the 2nd Defendant’s interest in OML 42 JV by virtue of the Deed of Appointment dated 21st of August

    2025, pending the hearing and determination of the Motion on Notice”.

     

    Meanwhile, the “Receiver/Manager” is the receiver/manager appointed by the Nestiol

    lenders, who have no collateral or other legal right over Neconde or Neconde’s interest in OML 42, and Justice Dipeolu therefore wrongly wiped out the collateral held by the Neconde lenders by placing Neconde under receivership in favour of the Nestoil lenders who do not have any collateral or charge over Neconde or its assets.

     

    Legal analysta said that Justice Dipeolu, an experienced judge of the Federal High Court of Nigeria was induced by extra judicial considerations for him to exercise that egregious judicial impunity.

     

    Expectedly, four of the Neconde lenders have already filed an application to be joined in the matter with a view to setting aside the orders made against Neconde because the order has no basis in fact and in law.

     

    However, legal analysts have hailed the Chief Judge of the Federal High Court in Abuja, Justice Tsoho over his decision to direct Justice Dipeolu to withdraw from the suit based on the petition presented by the Nestoil Group to the National Judicial Council.

     

    According to them, what Justice Tsoho did is the standard practice once a petition against a judicial officer has been presented to the NJC. “In fact, upon becoming aware of the petition, Justice Dipeolu ought to have recused himself from the matter with immediate effect without the necessity of the intervention of the Hon. Chief Judge” analysts said.

     

    Analysts also condemned an allegation that Justice Tsoho was given a bribe of $5m to give his directive that Justice Dipeolu should excuse himself from the Nestoil case..

     

    They wrote that it’s unfortunate that

    Justice Dipeolu’s handlers have chosen to mount a campaign of calumny against Hon. Justice Tsoho just because he gave a directive that would redeem the integrity of the Nigeria judicial system.

     

    The wrote: “A judge like Justice Dipeolu, who has consistently recklessly abused his judicial oath of office by making decisions that are induced by extra-judicial considerations ought to be flushed out of the. judiciary. His “fans” should help him to help himself by advising him to resign his office as a judge”

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