By Adetutu Audu
The High Court of Lagos State has removed the estate of late Nigerian industrialist Labode Oladimeji Akindele from private hands and placed it under the control of the state’s Administrator-General, six years after his death and while his children contest the validity of the document meant to govern it.
Justice Tanimola Ajorin-Ajose who is appointed the Administrator-General as interim administrator pending the hearing and final determination of the substantive suit, and directed that quarterly reports be filed on the administration of the assets.
The suit, LD/10/2020, was brought by Oladipo Alade Akindele, who describes himself as the seventh biological child and first son of the deceased, asking the court to declare the entire will invalid for failing to comply with the applicable Wills Law.
He alleges defects in execution, questions over the alteration of the execution date, and the absence of a Family Protocol the will relied on.
The defendants, comprising the industrialist’s widows, children, relatives and long-standing associates, alongside fashion designer Folake Folarin-Coker of Tiffany Amber, reject the allegations. They contend the document 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 finally determined.
Akindele died on Monday, 29 June, 2020, at his Apapa residence at 88. He built the Modandola Group across maritime services, fishing, manufacturing, real estate, finance and flour milling, with Nigerian subsidiaries including Standard Breweries, Diamond Foods and Standard Flour Mills. His London-based Fairgate Group held a British property portfolio, with Sainsbury’s and Asda among its tenants.
A 2013 Ventures Africa survey put his fortune at 1.19 billion dollars, though no current figure has been published.
Trial began on Friday, 3July, 2026, with hearings adjourned to Monday, 28 September, Wednesday, 7 October and Thursday, 8 October for continuation.
