Inside Alao-Akala’s Wealth: Bitter Family Clash Exposes Multi-Billion Naira Assets

The case, currently before an Oyo State High Court, was filed by his first daughter, Oluwatoyin Alao Aderinto, who is challenging how the estate is being managed. In the suit marked I/443/2024, she is seeking court intervention over alleged irregularities in the administration of her father’s assets. Those named in the suit include Oluwakemi Alao-Akala and Olamide Alabi, identified as executors of the estate.

Aderinto told the court that she has both legal and equitable rights to the estate, alleging that some properties have been sold without her consent, while plans are underway to dispose of others or enter joint venture agreements. She warned that unless the court intervenes, further transactions could result in irreversible losses. She is therefore seeking an injunction to halt any sale or transfer of assets pending the outcome of the case.

Court documents indicate that the late governor owned an extensive portfolio, including properties in Lagos, Abuja, and Ibadan, as well as real estate in the United Kingdom and the United States. His holdings also include a five-star hotel in Ghana and several high-value investments across different locations.

Since his death on January 12, 2022, in Ogbomoso at the age of 71, disputes have continued to trail the sharing and control of his estate. The current court case is the latest development in what has become a prolonged family disagreement over inheritance.

Among the assets listed in the dispute are residential and commercial properties in Ibadan, Ogbomoso, Lagos, and Abuja; multiple filling stations; media assets such as Parrot FM; large expanses of farmland; and international properties in the United States and the United Kingdom.