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Nestoil’s Ernest Obiejesi In Alleged N20.3 Billion Loan Story



Billionaire businessman and chairman cum chief executive officer of Nestoil Group, Ernest Azudialu Obiejesi, is back in the news again.

However, unlike before when the anti graft agency, EFCC sealed and defaced his expansive home, on Modupe Alakija Crescent, formerly known as Ikoyi Crescent, in highbrow Ikoyi, Lagos, the issue this time has to do with an alleged unserviced loan.

Said to be N20.3 billion, according to a petition to the Economic and Financial Crimes Commission (EFCC), the lender is alleging that Azudialu-Obiejesi and his company have refused to service or pay the said loan which was allegedly used to finance the wondrous Nestoil Towers, a 5-floor structure on Akin Adesola Street, Victoria Island.

The lender therefore pleaded with the anti-graft agency to assist in recovering the said money.

It would also be recalled that Guaranty Trust Bank at some point had a running battle with the Anambra-born businessman over allegations of unpaid loans.

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

The founder, Ernest Nnaemeka Azudialu Obiejesi was born on April 17, 1960. Also the brain behind Obijackson Foundation, he hails from Okija, Ihiala LGA of Anambra State. Married to Nnenna and blessed with children, he attended Government College, Owerri and thereafter joined his father’s business – DA Ifeanyi & Brothers Trading Company, from where he learnt the ropes and also grew.

A well known philanthropist, especially in his area, the Face of Okija cultural festival is organised annually by him.

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