Late Chief Olabode Akindele
By Toyin Williams
The children of late Nigerian industrialist, Chief Labode Oladimeji Akindele and other family members are currently are daggers drawn over the will left behind by the businessman six years after his death. This has culminated into a protracted legal battle among his children and other family members over the validity and administration of his will.
Based on this development,the High Court of Lagos State has taken interim control of Akindele’s of the estate.
Justice Tanimola Ajorin-Ajose appointed the Administrator-General of Lagos State as interim administrator of the estate pending the hearing and final determination of the substantive suit challenging the validity of the deceased’s will and the manner in which his vast assets have been administered.
The court directed the Administrator-General to operate under its immediate supervision and direction and to render quarterly reports on the administration of the estate.
All parties to the suit were also ordered to cooperate with the interim administrator.
The court’s intervention means that properties and other assets forming part of the estate will, pending the determination of the substantive dispute, be administered under the authority of the Administrator-General rather than by the disputing family members.
Letters of Administration have been issued and served on the parties, while notices and boards identifying properties now under the Administrator-General’s control are to be erected in compliance with the court’s directives.
The legal battle is contained in Suit No. LD/10/2020, instituted by Oladipo Alade Akindele, who identified himself as the seventh biological child and first son of the late industrialist.
Named as defendants are the deceased’s widows, children, relatives and long-standing associates, alongside the Registrar of the Probate Registry of the Lagos State High Court and the Administrator-General of Lagos State.
Among the defendants is prominent Nigerian fashion designer, Folake Folarin-Coker, founder of Tiffany Amber and one of the late industrialist’s daughters.
At the centre of the dispute is the validity of the will purportedly executed by Chief Akindele before his death.
The claimant is asking the court to declare the entire will invalid, arguing that it did not comply with the applicable provisions of the Wills Law and therefore cannot constitute a lawful basis for administering the estate.
His challenge focuses principally on alleged defects in the execution of the testamentary document, questions surrounding an alteration to the date of execution and the alleged absence of a Family Protocol which, according to him, the will relied upon.
The claimant maintained that several provisions of the will were dependent on the Family Protocol and that its absence raised serious questions about the completeness and enforceability of the testament.
He alleged that after obtaining a Certified True Copy of the will and subsequently inspecting the original document deposited at the Probate Registry, he discovered that the alleged Family Protocol was not attached to it.
According to him, the absence of the document meant that the will was incomplete and incapable of being properly implemented.
The claimant also alleged that several significant assets belonging to the late businessman were not expressly identified in the will.
Among the assets he referred to were properties located in different parts of the United Kingdom and the family residence in Spain, popularly known as “Nigerian House.”
Concerns were also raised over the management of rental properties belonging to the estate.
The claimant alleged that rents were outstanding on some properties and that there had not been adequate accounting for income generated from parts of the estate.
He argued that the absence of an effective executor or administrator capable of exercising proper oversight exposed the vast estate to the risk of waste, dissipation and mismanagement.
The defendants, however, have strongly rejected the allegations.
In their Statement of Defence, they maintained that the disputed family document exists and identified it as the “Sir (Chief) Olabode Oladimeji Akindele Family Constitution.”
They stated that the Constitution was executed by the deceased, some of his children and another member of the family between October and November 2018.
The defendants argued that the Family Constitution had been sufficiently incorporated and identified in the will and that its failure to be physically attached to the testament did not invalidate the document.
They also denied allegations that there had been any deliberate attempt to exclude the claimant from his inheritance.
According to them, the claimant’s absence from certain family activities and publications could not reasonably be construed as evidence of a conspiracy against him.
The dispute also extended to the circumstances surrounding the reading of the will.
The claimant complained that although he was a named beneficiary, he was not invited to the reading of the will at the Probate Registry on August 17, 2020.
The defendants responded that attendance at the reading had been restricted by the Probate Registry and that beneficiaries resident outside Nigeria were not invited because of the short notice.
Some of the defendants also opposed the appointment of an interim administrator.
They argued that the properties alleged to constitute part of the estate had not been sufficiently identified and described the claimant’s allegations concerning the assets and their administration as vague and speculative.
They further questioned the jurisdiction of the Lagos High Court over properties located outside Lagos State and, particularly, assets situated outside Nigeria.
Justice Ajorin-Ajose, however, held that the immediate question at the interim stage was not to conclusively determine the ownership or complete inventory of every asset allegedly belonging to the estate, but to ensure its preservation and prevent possible waste.
The judge consequently found that it was not necessary for the court to finally determine the identity and status of every disputed property before taking measures to safeguard the estate.
The appointment of the Administrator-General is therefore an interim arrangement and does not amount to a final determination of the competing claims concerning the will or the ownership and administration of individual assets.
The bitter family dispute has also crossed Nigeria’s borders, with related proceedings taking place in the United Kingdom.
The Lagos High Court had earlier issued Status Quo Orders on February 18, 2021, aimed at preserving the estate pending the resolution of the dispute.
According to the claimant, court-directed mediation commenced in 2023 and came close to resolving the Nigerian proceedings.
He alleged that a settlement agreement prepared by lawyers representing the defendants was signed by him but was never executed by the other parties.
While awaiting the completion of the proposed settlement, he further alleged that steps were taken to obtain probate in England and Wales after he failed to renew a caveat against the grant.
Proceedings relating to the Grant of Probate remain ongoing in the United Kingdom.
It would be recalled that Chief Labode Oladimeji Akindele died on June 29, 2020, at his residence in Apapa, Lagos, at the age of 88.
Born in Ibadan, Oyo State, Akindele built the Modandola Group, named after his mother, into one of Nigeria’s notable indigenous business empires.
His business interests cut across several sectors, including maritime services, fishing, manufacturing, real estate, finance and flour milling.
Among his Nigerian business interests were Standard Breweries, Diamond Foods in Ibadan and Standard Flour Mills in Lagos.
His interests in Britain were held through the London-based Fairgate Group, with major retail tenants reportedly including Sainsbury’s and Asda.
Fairgate Group Limited, Fairgate Estates Limited, Fairgate Investments Limited and Modandola Group are among the companies named in the Nigerian court proceedings.
Beyond business, Akindele was also a prominent philanthropist and traditional title holder. He was the Parakoyi of Ibadanland and founded the Bode Akindele Foundation in 1985.
He also established the ARAMED medical centre in Ibadan in honour of his mother.
Despite the size and international spread of his business interests, the current value of Akindele’s estate has never been publicly established.
A 2013 survey by Ventures Africa estimated his fortune at about $1.19 billion, although there has been no publicly available independent valuation of his estate since his death.
The substantive trial in the long-running dispute commenced on July 3, 2026, with the court continuing to hear documentary and oral evidence from the parties.
Justice Ajorin-Ajose has adjourned the matter to September 28, October 7 and October 8, 2026, for continuation of hearing.
Until the substantive suit is finally determined, the Administrator-General of Lagos State will remain in charge of the administration and preservation of the estate under the supervision and direction of the High Court.
The court’s intervention effectively places the sprawling business and property interests left behind by one of Nigeria’s most prominent industrialists under judicially supervised administration, as members of his family continue their battle over what should become of his legacy and fortune.
