The lead counsel to Nestoil Limited, Dr Muiz Banire, SAN, has issued a demand for the immediate withdrawal of a publication by online media outlet, PointBlank News, which accused him and several other lawyers of receiving millions of dollars in bribes to manipulate court decisions. He warned that failure to retract the report would attract legal action for defamation.
Banire, through his lawyer, Adeyinka Olumide-Fusika, SAN, described the report—headlined “$2 Billion Bank Debt: Nestoil, Neconde Demand $40 Million Refund from Lawyers After Supreme Court Defeat”—as untrue, malicious, and highly defamatory. In a pre-action notice addressed to the publisher of PointBlank News, Jackson Ude, Senior Editor (Africa) Ben Young, and Nigeria Editor Uduma Mba, Banire categorically denied claims that he received any portion of an alleged $40 million supposedly paid to lawyers to procure a favourable judgment at the Supreme Court in a debt dispute involving Nestoil Limited and Neconde Energy Limited.
The publication further alleged that Banire was implicated in another alleged arrangement at the Federal High Court, claiming that a separate sum of $5 million was paid to influence an order lifting asset-freezing directives connected to a $1 billion debt. According to the demand letter, these claims amount to allegations of conspiracy, bribery, fraud, and efforts to subvert the administration of justice—serious criminal offences under Nigerian law.
Olumide-Fusika noted that Banire, who is widely recognised for his long-standing anti-corruption stance and contributions to reforms aimed at strengthening public confidence in the justice system and legal profession, was deeply disturbed by being associated with what he described as criminal and unethical conduct. He criticised the report for relying solely on unnamed sources, including an unidentified “reporter” and an unspecified “insider,” without presenting any credible evidence to support the grave accusations.
The senior advocate challenged PointBlank News to produce verifiable proof of the alleged payments if such transactions indeed occurred. He stressed that even if the alleged bribery was not witnessed directly, the purported sources must be able to provide concrete evidence of the claimed $40 million allegedly paid to lawyers and the $5 million supposedly used to influence a court order. He warned that failure to provide such evidence would leave Banire with no alternative but to commence defamation proceedings against the publisher and editors of the platform, regardless of any challenges in identifying or locating those responsible.
Banire also clarified the actual proceedings at the Supreme Court in the case of Neconde Energy Limited v. FBNQuest Merchant Bank Limited & four others (SC/CV/1130/2025). He stated that his sole appearance in the matter was on January 12, 2026, and that the proceedings on that date were strictly limited to issues relating to legal representation.
He emphasised that the Supreme Court did not hear or determine any substantive matters concerning the alleged debt. A Certified True Copy of the ruling delivered on that day, which was attached to the demand letter, showed that the court merely adjourned the applications pending the outcome of a related appeal before the Court of Appeal. The ruling indicated that the issue of representation, already before the appellate court, had to be resolved before the Supreme Court could proceed with hearing the case.
Banire said this ruling directly contradicted the publication’s claim that the Supreme Court had ruled on the substantive dispute or that any lawyer received money to secure a favourable judgment. He added that the reliance on anonymous sources suggested that the platform may have been misinformed, either intentionally or otherwise.
He therefore demanded the immediate retraction of the publication and stated that he reserved all his legal rights. As at the time this report was filed, PointBlank News had neither issued a response to the demand nor published any retraction.