Nigeria News

Ernest Azudialu-Obiejesi: EFCC moves against Nestoil Boss over N20.3bn

Unfortunately for Nigerian businessman, Ernest Azudialu-Obiejesi, chairman and chief executive officer of Nestoil Group , it has been one week, one trouble, The Witness reports.

Recall, weeks ago, the EFCC, swooped in on the businessman and sealed his expansive residence on Modupe Alakija Crescent, formerly known as Ikoyi Crescent. The ultra-modern property was marked with the anti-graft agency’s signature red ink, indicating that it was under investigation.

However, after several hours, which were followed numerous phone calls to some highly influential people, the red ink was washed off the property.

Latest findings by The Witness revealed that one of the Nigerian new generation banks has reinstituted its battle against Azudialu-Obiejesi and his Nestoil Group, over an unpaid loan amounting to the tune of N20.3 billion.

In a petition to the Economic and Financial Crimes Commission (EFCC), the lender alleged that Azudialu-Obiejesi and his company have refused to service or pay the said loan which was allegedly used to finance Nestoil Towers, a 5-floor structure on Akin Adesola Street, Victoria Island.

The lender however pleaded with the anti-graft agency to assist in recovering the said fund.

Sources say Obiejesi’s penchant for non-payment of loans to banks is quite high as another lender, Guaranty Trust Bank Limited, had previously had a running battle with the Anambra-born businessman over unpaid loans.

Our reporter contacted Mr. Nnaji Igwe, Nestoil’s associate director and chief of staff, for the company’s angle to the development. In his response, Mr. Igwe said he had forwarded the inquiries to the corporate communications department of the company and promised that they would revert but there were no responses as at press time.

Nestoil, incorporated in Nigeria in 1991, offers engineering, procurement and construction (EPC) services to the oil and gas industry.

Report Credit: The Witnesses

Attah Aaron

Attah Aaron has spent over six years with Idoma Voice. He writes on religion and health.

Recent Posts

Who is Equatorial Guinea’s Baltasar Ebang Engonga? – Leaked tapes and more

Baltasar Ebang Engonga, the Director General of Equatorial Guinea’s National Financial Investigation Agency (ANIF), is…

15 hours ago

Download over 300 leaked viral video of Equatorial Guinea’s Baltasar Ebang Engonga

The recent scandal involving Baltasar Ebang Engonga, Equatorial Guinea's financial crime chief, highlights the complexities…

15 hours ago

BREAKING: Tinubu swears in seven new ministers

President Bola Tinubu has officially sworn in seven new ministers during a ceremony held at…

16 hours ago

Watch full leaked video of Equatorial Guinea’s Baltasar Ebang Engonga

Meet Equatorial Guinea Financial Crime's Chief, Baltasar Ebang Engonga, Whose Over '300' S3x tapes With…

16 hours ago

BREAKING: Court acquits Walter Onnoghen, reverses six-year conviction

The Court of Appeal in Abuja has discharged and acquitted former Chief Justice of Nigeria,…

17 hours ago

Leaked Tapes of Equatorial Guinea’s Baltasar Ebang Engonga Surface Online

Baltasar Ebang Engonga, the serving Director General of the National Financial Investigation Agency (ANIF) in…

18 hours ago