The battle for the soul and fortune of late billionaire industrialist Chief Labode Oladimeji Akindele has taken a dramatic twist, as a Lagos High Court steps in with an iron fist, ordering that his sprawling empire be placed under state control pending the resolution of a bitter family feud that threatens to tear his legacy apart.
Justice Tanimola Ajorin-Ajose of the Lagos State High Court has effectively frozen private administration of the estate, handing over the reins to the Administrator-General of Lagos State, after dismissing an application to strike out the claimant’s suit. The ruling means official notices and property boards will soon appear across the late mogul’s vast holdings—from Lagos to London, and even a Spanish villa known as ‘Nigerian House.’
At the centre of the storm is Oladipo Alade Akindele, who describes himself as the seventh biological child and first son of the deceased. He is challenging the validity of the purported Will, alleging fatal defects in its execution, a suspicious alteration of its date, and the glaring absence of a so-called “Family Protocol” that the Will heavily references. According to Oladipo, when he obtained a Certified True Copy and later inspected the original at the Probate Registry, “no such document was attached”—rendering the Will incomplete and unenforceable.
But the defendants, including renowned fashion designer and Tiffany Amber founder Mrs. Folake Coker, are fighting back. They insist the “Family Constitution” was duly executed by the late patriarch and several family members between October and November 2018. They argue that the document was sufficiently incorporated into the Will and that “whether or not it was physically attached cannot invalidate the testament.” They also deny any plot to cut Oladipo out of his inheritance, dismissing his claims of exclusion as mere misunderstandings rather than conspiracy.
The case, Suit No. LD/10/2020, has already seen Status Quo Orders issued since February 2021, but the new intervention marks a significant escalation. Chief Akindele, who died at 88 on June 29, 2020, built a colossal business empire spanning maritime services, fishing, finance, real estate, and international investments through companies like Fairgate Group Limited, Fairgate Estates, and Madandola Group.
With trial already commenced on July 3, 2026, and more documentary and oral evidence expected, Justice Ajorin-Ajose has adjourned the matter to September 28, October 7, and October 8, 2026. As the legal war drags on, one thing is certain—this is a family saga where billions hang in the balance, and no one is backing down.
