The Lagos State High Court has directed the Lagos State Administrator-General to temporarily manage the estate of the late billionaire industrialist, Chief Labode Akindele, as a legal battle regarding his Will continues. Justice Tanimola Ajorin-Ajose issued this ruling following a request from the deceased’s eldest son, Oladipo Akindele, who is questioning the legitimacy of the Will and working to protect his father’s assets from depletion.
Chief Akindele, known as the Parakoyi of Ibadan, passed away on June 29, 2020, in Lagos at the age of 88. His son, the claimant, has named 16 defendants in the lawsuit, including widows, relatives, and probate officials. The claimant contends that the current Will does not adhere to legal requirements, making it invalid for estate administration. He also voiced concerns regarding the handling of estate assets, specifically rental properties, alleging that income has not been properly managed or reported.
Addressing the request, Justice Ajorin-Ajose stated that the estate required immediate oversight to prevent mismanagement during the legal proceedings. The Administrator-General is now tasked with managing the estate under court supervision and must submit quarterly reports. While several defendants opposed the appointment, arguing the claims were speculative and questioning the court’s jurisdiction over out-of-state assets, the judge overruled these objections. The court determined that protecting the assets takes priority at this stage. This interim order will stay in effect until the court reaches a final decision on the validity of the Will.
