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NECONDE ENERGY LIMITED V. FBNQUEST MERCHANT BANK LIMITED, FIRST TRUSTEES LIMITED, NESTOIL LIMITED, ERNEST AZUDIALU-OBIEJESI & NNENA AZUDIALU-OBIEJESI

(2026) JELR 114921 (SC)

Supreme Court  •  SC.CV/48/2026  •  10 Apr 2026  •  Nigeria

Coram
Mohammed Lawal Garba, JSC Emmanuel Akomaye Agim, JSC Haruna Simon Tsammani, JSC Stephen Jonah Adah, JSC Mohammed Baba Idris, JSC

Appearances
B. Olanipekun, S.A.N., M. Tayo-Oyetibo, S.A.N., with them, A. Makinde, Esq., R. Nkannebe, Esq., O. Muritala, Esq., R. Nmarkwe, Esq. and V. Bassey, Esq. - for Appellant A. Ogie, Esq. - for Receiver/Manager V. Ogude, S.A.N., O. Popoola, S.A.N., with them, K. O. Fagbemi, Esq., B. Oyun, Esq., K. Wilkey, Esq. and B. Ofulue, Esq. - for 1st and 2nd Respondents M. B. Ganiyu, Esq., with him, M. Ilegbusi, Esq. - for 3rd Respondent

Judgement

MOHAMMED BABA IDRIS, J.S.C. (Delivering the Lead Judgment): This is an appeal against the ruling of the Court of Appeal, Lagos Judicial Division, delivered on the 23rd day of January, 2026 in Appeal No. CA/LAG/PRE/ROA/CV/1283M1/2025 wherein the Court below coram: Yargata Byenchit Nimpar, JCA, Danlami Zama Senchi, JCA, and Polycarp Terna Kwahar, JCA, granted an application at the instance of the counsel appointed by the receiver/manager over the Appellant and consequently disqualified the legal team led by Chief Wole Olanipekun, SAN, from representing the Appellant, on the ground that the Appellant's assets were under receivership and in such circumstances, only the receiver/manager possessed the authority to appoint counsel on behalf of the company.

The 1st and 2nd Respondents instituted an action at the Lagos Judicial Division of the Federal High Court by way of Originating Summons, wherein they sought for the determination of the following questions:

  1. Whether upon a true construction o…

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