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Justice Tanimola Ajorin-Ajose of the Lagos State High Court has ordered the Lagos State Administrator-General to take over the interim administration of the estate of the late billionaire, Chief Labode Oladimeji Akindele, amid a legal dispute over his Will pending the final determination of the suit filed by the deceased’s first son.
The deceased’s first son, Mr Oladipo Alade Akindele, sued several individuals connected with the estate, including his late father’s widows, children, relatives and long-time associates, over the disputed Will.
The claimant is asking the court to declare the entire Will invalid, contending that it failed to comply with the provisions of the applicable Wills Law and should not form the legal basis for administering his father’s vast estate.
The 16 defendants named in the suit are Rev. Michael Stephen, Prof. Wale Tomori, Rev. Canon Prof. Kolawole Jaiyeoba, Mrs. Oluwatoyin Isemede, Mrs. Abiola Aderibigbe, Mrs. Abiodun Duduyemi, Mrs. Ajoke Braithwaite, Mrs. Oluyemisi Oladapo, Mrs. Titilola Madedor, Mrs. Afolake Coker, Miss Ayodele Akindele, Mr. Mobolaji Akindele, Mrs. Mojisola Shonibare, Mrs. Roseline Akindele, Miss Samantha Stevenson, the Registrar of the Probate Registry of the Lagos State High Court and the Administrator-General of Lagos State.
The Ibadan, Oyo State-born billionaire industrialist and Parakoyi of Ibadan died on June 29, 2020, at the age of 88, at his residence in Lagos.
The court appointed the Administrator-General of Lagos State as interim administrator of the estate pending the hearing and determination of the substantive suit, following an application filed by the claimant.
The court also ordered the interim administrator to file quarterly reports detailing the administration of the estate and directed that the administrator operate under the immediate control and direction of the court.
Justice Anjorin-Ajose further ordered all parties to cooperate with the Administrator-General to ensure the preservation of the estate.
The court’s intervention followed concerns raised in the claimant’s application that the estate, which comprises properties generating rental income, was at risk of waste or dissipation while the legal dispute remained unresolved.
The claimant had argued that rental income from some of the properties had not been properly accounted for and that rents remained unpaid because there was no effective executor or administrator in place.
The application was opposed by some of the defendants, who challenged the claimant’s suit and raised, among other issues, questions about the jurisdiction of the court.
The defendants argued that the properties forming part of the estate had not been sufficiently identified and that the claimant’s affidavit contained vague and speculative allegations.
They also raised concerns about the territorial jurisdiction of the Lagos High Court, particularly regarding assets located outside Lagos State and Nigeria.
However, the court rejected their objections, holding that its immediate concern was to preserve the estate and prevent waste pending the resolution of the substantive dispute, rather than determine the precise properties that constitute the estate.
The judge also noted that the deceased’s Will was under challenge and that there was, at the time of the application, no executor or administrator in place to effectively manage the estate.
The court consequently ruled that the application for the appointment of an interim administrator was meritorious.
