The purported publication that Nestoil and Neconde are under Receivership is blatantly false and an attempt to prejudice on going pending suit between First Bank Trustees and FBNQuest Merchant against Nestoil and others.

It is pertinent to note that an ex-parte application by plaintiffs for judicial recognition of their purported Receiver manager was refused. Further more all issues requesting Judicial recognition in the substantive suit by the plaintiffs on behalf of the secondary lender Banks led by First Bank are still pending for hearing at the Federal High Court Ikoyi Lagos.

Consequently any publication that Nestoil and Neconde are under Receivership is totally false ,prejucial and contempt of court.

An inchoate Receiver Manager appointment with out recognition by the court as in this case has no powers to seize the defendants assets including freezing of its accounts and that of its Directors.

The plaintiffs and its purported Receiver manager can not blow hot and cold at the same time.Nigeria law forbids self help.

The plaintiffs having gone to court,they should as lawful citizens await final determination of their suits for judicial recognition of the Receiver ship amongst other reliefs.