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Fresh controversy is brewing within the Nigerian judiciary following allegations that the Chief Judge of the Federal High Court, Justice John Terhemba Tsoho, received a $5 million bribe to overturn a landmark order restraining Nestoil Limited and its affiliates from tampering with their assets in a $1 billion debt recovery case.
The alleged scandal, insiders say, is linked to a recent Mareva injunction granted by Justice Dehinde Dipeolu of the Federal High Court, Lagos, in a suit filed by First Trustees Limited and FBNQuest Merchant Bank Limited-a consortium of creditor banks seeking to recover massive debts owed by Nestoil and its affiliates.
In the October 22, 2025 order (Suit No. FHC/L/CS/2127/2025), Justice Dipeolu authorized the creditors to take possession and assume control of Nestoil’s assets and subsidiaries under receivership, pending the determination of the substantive suit.
Respondents in the matter include Nestoil Limited, Neconde Energy Limited, and the company’s founder, Dr. Ernest Azudialu-Obiejesi, along with his wife, Nnenna Obiejesi.
A certified true copy of the court order, dated October 24, 2025, and signed by Registrar Orakwe Nonye Ossy, directed the Deputy Inspector General of Police, Department of Operations, Abuja, to assist in enforcing the injunction against the debtors.
However, barely a week after the order was issued, sources allege an “underground plot” was activated to derail the case. According to judiciary insiders, Nestoil and its promoters reportedly acting on the advice of Chief Judge Tsoho, filed a petition against Justice Dipeolu, accusing him of bias and judicial misconduct.
“Justice Tsoho allegedly advised them to write the petition so that he could use it as grounds to reassign the case to one of his preferred judges,” a senior judiciary officer familiar with the development told our correspondent. “A $5 million inducement was reportedly part of the arrangement.”
The source alleged that Justice Tsoho intends to transfer the case to Justice Ambrose Lewis-Allagoa, described as one of his favoured judges, who is expected to vacate the order and free Nestoil and its affiliates from the receivership burden.
The insider added that the petition against Justice Dipeolu has already delayed proceedings scheduled for this week.
“The delay is a calculated move,” the source said. “Once the transfer is completed, the intention is to quietly nullify the order and let the defendants walk away.”
Justice Dipeolu’s ruling had earlier drawn commendation from legal experts and financial analysts, who hailed it as a significant step toward curbing the impunity of chronic bank debtors.
“Justice Dipeolu’s decision was a test of judicial integrity in the fight against bad loans. It’s unfortunate that such a bold ruling is now under threat from within the system,” said a senior lawyer who requested anonymity.
Attempts by our reporter to reach Justice Tsoho for comments proved unsuccessful, as a message sent to his mobile line was not replied to at the time of filing this report.
The alleged interference, if proven, could mark one of the most damaging corruption scandals to hit the judiciary in recent years raising fresh questions about judicial independence and accountability in Nigeria’s legal system.