Justice Tanimola Ajorin‑Ajose ordered the takeover as an interim measure, directing the Administrator‑General to file quarterly reports while the court determines the validity of the document meant to govern the estate.
The dispute stems from Suit No. LD/10/2020, filed by Oladipo Alade Akindele, who identifies himself as the seventh biological child and first son of the deceased. He is asking the court to invalidate the entire will, alleging it failed to comply with the Lagos Wills Law. His claims include alleged defects in execution, questions over an altered execution date, and the absence of a “Family Protocol” referenced in the document.
The defendants , a long list that includes the industrialist’s widows, children, relatives, long‑time associates, and fashion designer Folake Folarin‑Coker of Tiffany Amber , insist the document is valid. They say it exists as the “Sir (Chief) Olabode Oladimeji Akindele Family Constitution,” executed between October and November 2018, and deny any attempt to exclude the claimant. None of the allegations has been resolved.
Akindele, died on June 29, 2020 and his wealth is estimated at $1.19 billion, though no updated figure has been published.
He built the Modandola Group with interests spanning maritime services, fishing, manufacturing, real estate, finance, and flour milling. His Nigerian subsidiaries included Standard Breweries, Diamond Foods, and Standard Flour Mills, while his London‑based Fairgate Group held a major British property portfolio with tenants such as Sainsbury’s and Asda.
Trial opened on July 3, with hearings now adjourned to September 28, October 7, and October 8 as the legal battle over one of Nigeria’s most complex estates continues.
From Billionaires Africa.
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