The Lagos State High Court has ordered the interim administration of the estate of late industrialist Chief Labode Oladimeji Akindele by the Lagos State Administrator-General, following a legal challenge to the validity of his Will. Justice Tanimola Anjorin-Ajose issued the order to protect the estate from potential mismanagement while the substantive case proceeds.
Background of the Dispute
Chief Akindele, an Ibadan-born businessman and Parakoyi of Ibadan, died on June 29, 2020, at his Lagos residence at the age of 88. His first son, Mr Oladipo Alade Akindele, filed a suit against 16 defendants, including his late father's widows, other children, relatives, associates, and officials of the Lagos State High Court Probate Registry.
Oladipo is challenging the Will's validity, arguing that it failed to meet the requirements under the applicable Wills Law. He claims that the Will should not be used to guide the distribution of the estate. At the heart of the court's concern was the risk that estate assets, including properties generating rental income, could be mismanaged or depleted while the legal battle drags on.
Allegations of Mismanagement
Oladipo told the court that rental income from some of the properties had not been properly accounted for, and that unpaid rents had accumulated because no effective administrator was in place. This raised concerns about the preservation of the estate's value.
Several defendants challenged the application, disputing the court's jurisdiction and arguing that properties forming part of the estate had not been properly identified. They also described parts of Oladipo's affidavit as vague and questioned whether Lagos State courts had authority over assets located outside the state and possibly beyond Nigeria.
Court's Ruling
Justice Anjorin-Ajose dismissed the objections at the interim stage, ruling that the court's immediate obligation was to protect the estate from potential waste while the core dispute is being heard. The judge noted that with no executor or administrator in place and the Will itself under legal challenge, granting the application was the appropriate course.
The Administrator-General has been directed to file quarterly reports with the court and to act under its supervision. All parties have been ordered to cooperate with the interim administrator.
What's Next
The appointment does not resolve the question of whether the Will is valid. That issue remains before the court as the substantive case proceeds. The full details of the court judgment are available for download.
Related Case: Oriental Energy Dividend Dispute
In a related development, a Federal High Court ordered Oriental Energy, an oil company founded by billionaire Muhammadu Indimi, to pay $43.51 million to his twin daughters in a dispute over company dividends. The ruling, reported by The Africa Report, was a major win for Ameena and Zara Indimi, who argued they were unfairly excluded from a dividend pool tied to Oriental Energy’s offshore earnings.
According to the sisters, they are entitled to a combined 10% stake, which should have entitled them to a share of roughly $435.1 million (over N588 billion) in dividends.
