The Lagos State High Court has ordered that the estate of late billionaire industrialist, Chief Labode Oladimeji (Bode) Akindele, be placed under the supervision of the Administrator-General of Lagos State pending the resolution of the legal dispute over his assets.
The development marks a significant step in the long-running succession battle among members of the Akindele family over the validity of the late businessman’s Will and the administration of his extensive assets in Nigeria and abroad.
Following the court’s directive, Letters of Administration have reportedly been issued and served on relevant parties, while official notices are expected to be placed on properties now under the Administrator-General’s control.
The order effectively takes the estate out of private management until the court determines who is legally entitled to administer it.
The case, marked LD/10/2020, is before Justice Tanimola Ajorin-Ajose of the Lagos State High Court. It was instituted by Oladipo Alade Akindele, who described himself as the seventh biological child and first son of the late industrialist.
The claimant is asking the court to invalidate the purported Will, alleging several irregularities, including defects in its execution, references to a “Family Protocol” that was allegedly not attached to the document, and concerns over an alteration to the Will’s execution date.
He also argued that some significant assets, including properties in the United Kingdom and the family’s residence in Spain, popularly known as “Nigerian House,” were either omitted or inadequately identified in the testament.
According to the claimant, the alleged Family Protocol was an essential part of the Will because some of its provisions relied on the document. However, he said that after obtaining a Certified True Copy of the Will and inspecting the original at the Probate Registry, he found no such protocol attached.
He therefore contended that the Will was incomplete and incapable of being properly implemented.
The defendants have, however, rejected the allegations. They maintain that the document exists as the “Sir (Chief) Olabode Oladimeji Akindele Family Constitution” and was duly executed by the late industrialist and other family members in 2018.
They also argued that the absence of the document from the probate copy does not invalidate the Will and denied allegations that the claimant was deliberately excluded from family affairs or deprived of his inheritance.
The latest order follows an earlier status quo order granted by the court in February 2021 to preserve the estate while the legal battle continues.
Akindele’s business interests reportedly cut across maritime services, fishing, finance, real estate and international investments through companies including Fairgate Group Limited, Fairgate Estates Limited, Fairgate Investments Limited and Madandola Group.
The succession dispute has also assumed an international dimension, with related probate proceedings ongoing in the United Kingdom concerning a Grant of Probate issued by the Probate Registry of England and Wales.
Chief Bode Akindele died on June 29, 2020, at the age of 88. His death triggered a succession dispute involving his children, widows, relatives and associates. Among the defendants is fashion entrepreneur Folake Coker, founder of Tiffany Amber.
The claimant is seeking declarations nullifying the Will, an order preventing its use in administering the estate, and a comprehensive account of the estate’s assets, income, expenditure and transactions since Akindele’s death.
Although trial commenced on July 3, 2026, further documentary and oral evidence is expected. The case has been adjourned to September 28, October 7 and October 8, 2026, for continuation of hearing.
With the Administrator-General now overseeing the estate, attention will remain on the preservation of Akindele’s assets as the court determines the validity of the disputed Will and the persons legally entitled to inherit and administer the late billionaire’s estate.
