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Investors Cautioned: Nestoil Towers Under Court Restraint, Not for Sale — Drawcok

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Investors Cautioned: Nestoil Towers Under Court Restraint, Not for Sale — Drawcok

Drawcok Estate Limited has issued a formal public warning highlighting unlawful efforts to sell, lease, or assume control of the iconic Nestoil Towers in Victoria Island, Lagos, notwithstanding multiple court orders that restrain any dealings with the property.

In a detailed public notice released in Lagos, the company alerted potential buyers, investors, financial institutions, and the general public that the property located at 41/42 Akin Adesola Street and 60 Saka Tinubu Street, popularly known as Nestoil Towers, is currently the subject of ongoing litigation before both the Federal High Court and the Court of Appeal.

Drawcok, the legal owner of the property, said it was compelled to issue the notice following recent “misleading and unlawful” representations by individuals allegedly acting on behalf of Guaranty Trust Bank (GTBank) and others.

Although widely known as Nestoil Towers due to branding arrangements with its first tenant, the company clarified that all legal title to the land and the building—above and beneath the ground—belongs exclusively to Drawcok, not to Nestoil Limited or any bank.

At the centre of the dispute is Suit No. FHC/L/CS/1812/2024, in which the Federal High Court granted a binding order restraining GTBank, its agents, and assigns from transferring, leasing, selling, mortgaging, or otherwise dealing with the multi-storey commercial complex pending the determination of the suit.

Drawcok emphasised that the restraining order remains valid and has not been set aside or vacated.

The company further disclosed that multiple appeals—CA/LAG/PRE/ROA/CV/66M1/25; CA/LAG/PRE/ROA/CV/66M2/25; and CA/LAG/PRE/ROA/CV/161M1/25—are pending before the Court of Appeal, underscoring the complexity and ongoing nature of the cases.

According to the notice, individuals claiming to act under the authority of GTBank’s lead counsel in the subsisting suit have been approaching third parties and suggesting that they have a mandate to sell or lease the high-rise building.

Drawcok dismissed these claims as false, misleading, and legally unenforceable, insisting that no party is permitted to transact on the property in view of the binding court order.

The company also referenced another case, Suit No. FHC/L/CS/2127/2025, filed by FBNQuest Merchant Bank Limited and First Trustees Limited against Nestoil Limited.

Drawcok said the FBN parties “wrongfully, whether by error or otherwise,” obtained an order purporting to seal or take control of the property.

It added that a purported Receiver, Abubakar Sulu-Gambari, SAN, has been taking actions that infringe on Drawcok’s proprietary rights, even though the company is not the judgment debtor in that matter.

In its strongest warning yet, Drawcok urged the public to disregard any communication from GTBank, its lawyers, the FBN parties, Sulu-Gambari, or any other individual claiming authority to sell, mortgage, transfer, or lease the property.

The company stressed that any person or entity entering into any commercial arrangement relating to the sale, purchase, lease, licence, or transfer of interest in the property does so entirely at their own risk.

Drawcok maintained that any such transaction will be considered null, void, and unenforceable, noting that the doctrine of lis pendens applies, given the multiple ongoing suits and appeals.

Reiterating the principle of caveat emptor (buyer beware), the company stated that Nestoil Towers is not available for sale, lease, mortgage, or any related transaction, and any advertisement or offer suggesting otherwise is fraudulent and should be ignored.

The notice concluded by stating that it was issued in good faith and in the interest of legal compliance. It warned that anyone who disregards the notice risks significant financial and economic loss, as Drawcok will not recognise or ratify any unauthorised transaction.

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Aare Adetola EmmanuelKing Felicitates Olofin of Ilisan Remo on 86th Birthday

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Aare Adetola EmmanuelKing Felicitates Olofin of Ilisan Remo on 86th Birthday

 

The Borokinni of Ilishan Remo, Sir Aare Adetola EmmanuelKing KOF, has extended warm birthday felicitations to the Olofin of Ilisan Remo, His Royal Majesty, Oba (Dr.) Barr. Michael Olufemi Mojeed Sonuga Daniyan II, as the revered monarch celebrates his 86th birthday anniversary.

In a statement released to commemorate the royal father’s birthday, Aare Adetola EmmanuelKing described the monarch as a symbol of peace, wisdom, progress, and exemplary royal leadership, whose reign has continued to bring honor and development to Ilisan Remo.

According to him, since ascending the revered throne of his forefathers, the Olofin has consistently demonstrated purposeful leadership and unwavering commitment to the unity, growth, and cultural advancement of the kingdom, while fostering peace and harmony among the people.

He further noted that the monarch’s reign has inspired pride and confidence among indigenes of Ilisan Remo both at home and in the diaspora, adding that Kabiyesi’s dedication to community development and preservation of tradition remains highly commendable.

The Borokinni prayed for continued divine grace, sound health, long life, and greater wisdom for the royal father as he continues his impactful reign on the throne of his ancestors.

“On behalf of my family, associates, and well-wishers, I heartily congratulate His Royal Majesty, Oba (Dr.) Barr. Michael Olufemi Mojeed Sonuga Daniyan II, the Olofin of Ilisan Remo, on the joyous occasion of his 86th birthday. May Almighty God continue to strengthen Kabiyesi with peace, sound health, and many more years of fruitful reign,” he stated.

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Aliko Dangote Foundation, WEF Unveil 2026 YGL Aliko Dangote Fellows

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Titans and Trailblazers: Nigeria’s Great Entrepreneurs from Abiola to Dangote — The Story of Wealth, Influence, and National Impact. By George Omagbemi Sylvester | Published by saharaweeklyng.com 

Aliko Dangote Foundation, WEF Unveil 2026 YGL Aliko Dangote Fellows

…Spotlighting Africa’s Next Generation of Change Leaders

 

 

 

World Economic Forum (WEF) in partnership with the Aliko Dangote Foundation (ADF) has announced the 2026 cohort of the Young Global Leaders (YGL) Aliko Dangote Fellows, highlighting a new generation of African leaders committed to expanding opportunity and strengthening institutions across the African continent.

 

 

 

The Fellowship serves as a critical bridge between Africa’s emerging changemakers and the global Young Global Leaders network, fostering collaboration, knowledge exchange, and sustainable development. The YGL Aliko Dangote Fellowship supports high-impact African leaders by enabling their full participation in the Forum of Young Global Leaders (YGL) programme and broader WEF activities.

 

WEF said the 2026 YGL Aliko Dangote Fellows represent diverse professional backgrounds spanning healthcare, technology, entrepreneurship, and advocacy across sub-Saharan Africa. The newly selected fellows are Dr. Esperance Luvindao; Charlot Magayi, Founder of Mukuru Clean Stoves; Rewa Udoji, Founder of Cranstoun; Dr. Stephen Modise; Dr. Musa Kika; Hatim Eltayeb; Kemi Lala Akindoju; and Vimbai Masiyiwa.

 

 

 

With a strong emphasis on empowering women leaders, the Fellowship is designed to support Africans shaping solutions to pressing social and economic challenges while strengthening leadership capacity across key sectors.

 

 

 

Over the past 14 years, the Aliko Dangote Foundation–powered Fellowship has supported more than 130 young African leaders, providing access to Davos meetings, executive education opportunities, and influential peer networks that amplify African voices on the global stage.

 

 

 

Commenting on the announcement, Fatima Aliko Dangote, Trustee of the Aliko Dangote Foundation and Group Executive Director, Oil & Gas, Dangote Industries Limited, described the 2026 fellows as “leaders who will expand opportunity and strengthen institutions, advancing Africa on its own terms.”

 

She added: “Africa’s future will be defined by the strength of its people. When the right leaders—especially women—are empowered and given a global voice, they do not just lead; they reshape what is possible. That is why we invest in people: because it is the surest path to lasting global prosperity, stability, and self-determination. The 2026 cohort embodies this vision.”

 

According to her: the 2026 YGL Aliko Dangote Fellows represent that future leaders who will expand opportunity and strengthen institutions, advancing Africa on its own terms while helping define a world whose future will be shaped by the continent.

 

 

 

 

 

She explained that the idea behind the YGL Aliko Dangote Fellowship is to cultivate, empower, and support exceptional African leaders under 40, ensuring they have the resources to participate in the World Economic Forum (WEF)’s Young Global Leaders (YGL) community. It specifically aims to accelerate their impact on the continent and globally.

 

 

 

 

 

Details of the new fellows in the announcement indicated that; Hatim Eltayeb, is the Chief Executive Officer of African Leadership Academy, strengthening one of the continent’s most important leadership institutions; Dr Esperance Luvindao, Namibia’s Minister of Health and Social Services, combining clinical experience with digital health and grassroots innovation; Charlot Magayi, the Kenyan founder of Mukuru Clean Stoves, linking clean energy, public health and livelihoods; Dr Stephen Modise, Botswana’s Minister of Health, bringing a data-driven approach to public health reform.

 

 

 

 

 

Dr Musa Kika, Executive Director of the Institute for Human Rights and Development in Africa, using law to defend constitutionalism and civic space; Rewa Udoji, the Nigerian artist and finance professional whose work bridges culture, capital and women’s economic literacy; Kemi Lala Akindoju, the Nigerian producer and actor helping reshape the creative economy through talent development, financing and more grounded storytelling; and Ms Vimbai Masiyiwa, co-founder and Chief Executive Officer of Batoka Africa, building a model of tourism rooted in sustainability, community ownership and women’s empowerment. Together, they reflect the range of leadership the fellowship is designed to support public leaders, entrepreneurs, institution-builders and cultural actors already shaping systems in very different ways.

 

 

 

It would be recalled that Aliko Dangote YGL Fellowship has supported more than 90 Fellows from over 25 African countries, thus enabling full participation in the World Economic Forum’s Young Global Leaders programme through access to convenings, executive education, peer networks and global platforms.

 

Over that period, Fellows have taken part in more than 400 engagements across Annual Meetings, regional summits and learning modules, contributing to debates on finance, climate, health, technology and governance.

 

 

 

 

 

 

 

 

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Norwegian Sovereign Wealth Fund Eyes Partnership with Dangote Group on Africa Investments

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Norwegian Sovereign Wealth Fund Eyes Partnership with Dangote Group on Africa Investments

 

The President/Chief Executive of Dangote Group, Aliko Dangote has held a high-level meeting with Nicolai Tangen, the Chief Executive Officer of Norges Bank Investment Management, the world’s largest sovereign wealth fund manager, overseeing assets valued at approximately $1.9 trillion.

 

At the meeting, the Norwegian investment institution expressed strong interest in partnering with Dangote Group to expand its footprint across the African continent, with a focus on strategic sectors including power, energy, renewables, agriculture, fertiliser and cement.

 

Also present at the meeting were Svein Tore Holsether, Chief Executive Officer of Yara International, one of the world’s leading fertiliser and agricultural companies, and Terje Pilskog, Chief Executive Officer of Scatec, a global renewable energy company.

 

The engagement shows growing global investor confidence in Africa’s industrial and infrastructure potential, as well as the increasing role of indigenous conglomerates such as Dangote Group in driving large-scale economic transformation.

 

For Dangote Group, the potential partnership represents a significant opportunity to deepen its investments across key sectors critical to Africa’s development, particularly in energy transition, food security and industrial capacity expansion.

 

The Norwegian sovereign wealth fund, widely regarded as a benchmark for global institutional investment, has in recent years shown increased interest in emerging markets, with Africa seen as a frontier for long-term value creation.

 

The collaboration between the fund and Dangote Group could unlock substantial capital flows into critical infrastructure and industrial projects, further accelerating economic growth and regional integration across the continent.

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