Nestoil Towers Reopens After Supreme Court Rulings

Nestoil Towers reopened after the Supreme Court delivered two landmark decisions on June 1, 2026, setting aside prior Court of Appeal rulings that had favored lenders seeking to appoint a receiver for Nestoil Ltd and Necond Energy Ltd. The Supreme Court's rulings, made on April 10, 2026, disqualified the lenders' lawyer and invalidated the ex parte orders that had previously sealed the Nestoil Towers complex for seven months.

The Inspector General of Police, represented by Wole Olanipekun & Co, complied with the Supreme Court's ruling and promptly reopened the property. Bode Olanipekun, Senior Counsel for Necond, criticized the sealing of the property as a misuse of court orders, asserting that no valid order existed to justify the actions taken against Nestoil.

The legal battle originated from allegations of indebtedness against Nestoil, with the lenders initially obtaining an ex parte order from the Court of Appeal, which has now been overturned.