Court takes charge of late billionaire Akindele’s estate amid Will dispute

The Lagos State High Court has intervened in a dispute over the estate of the late billionaire industrialist, Chief Labode Akindele, appointing the Lagos State Administrator-General as interim administrator. The court's decision stems from a legal challenge filed by Akindele's eldest son, Mr. Oladipo Akindele, who is contesting the validity of his father's Will.

Chief Akindele, who passed away on June 29, 2020, at the age of 88, left behind a Will that is now the subject of a lawsuit involving 16 defendants. These include the deceased's widows, children, relatives, associates, and officials from the Lagos State High Court Probate Registry. The claimant argues that the Will fails to comply with the applicable Wills Law, rendering it legally insufficient for administering the estate.

Concerns have also been raised regarding the management of the estate's assets, which include income-generating properties. The claimant alleges that some rental payments are overdue and that income from certain properties has not been properly accounted for. He contends that without a valid executor or administrator, the estate is vulnerable to waste, dissipation, or mismanagement during the ongoing Will dispute.

Justice Tanimola Ajorin-Ajose's ruling mandates the Administrator-General to operate under the court's direction and submit quarterly reports. The court has directed all parties to cooperate with the interim administrator to safeguard the estate. Some defendants have opposed the application, questioning the claimant's case and the court's jurisdiction, arguing that estate properties are not sufficiently identified and that the claimant's allegations are vague.