Home News REVEALED: Trouble over late Arisekola Alao’s Estate

REVEALED: Trouble over late Arisekola Alao’s Estate

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By Olaolu Bilau

All is not well within the family of late Aare Musulumi of Yorubaland, Alhaji Abdul Azeez Arisekola Alao, as some members of the family are said to have engaged in underground sale of parts of his sprawling estate.

There have been speculations about the surreptitious sale of some lands and property belonging to the late entrepreneur for some times now.

The development, however, came to light recently when some children of the late Arisekola Alao came out to, in an advertisement in some national newspapers, to warn those who may have bought or wish to buy part of the estate to beware.

But WESTERN POST learnt the sale of some of the estate had the knowledge of some other children of the late industrialist and Islamic scholar. The late Arisekola Alao has many children from many women.

Four of the children of the late entrepreneur namely Mrs. Khadijah Alao Straub, Ms. Fatimah Alao, Mr. Idris Alao and Mr. Mustapha Alao have named themselves as executors of the estate.

They warned that no sale of any part of the estate would be valid without their consent and authority.

They also warned anybody “who buys, leases or otherwise deals with any property comprised in the estate” without their “consent and authority does so at his or her own risk”.

The late industrialist has properties strewn across the country and beyond. He has substantial investments in First Bank Plc among other blue-chip companies in the country.

“The late Arisekola Alao and Oba Otudeko virtually own the First Bank,” one top investment expert told WP at the weekend.

In an advertisement placed in some national newspapers last week, the four named children issued what in legal parlance is called ‘Caveat Emptor’, meaning buyers beware, in respect of his estate.

In the advertisement signed by those who named themselves as “Trustees and Solicitors to the Estate of late Arisekola Alao,” the four children said: “This is to inform the General Public that probate has been obtained at the High Court of Justice, Oyo State of Nigeria in respect of the estate of the late Alhaji Abdul-Azeez Arisekola Alao by the underlisted children of late Alhaji Abdul-Azeez Arisekola Alao to wit: Mrs. Khadijah Alao Straub, Ms. Fatimah Alao, Mr. Idris Alao and Mr. Mustapha Alao.

“Anybody who buys, leases or otherwise deals with any property comprised in the estate of the late Alhaji Abdul-Azeez Arisekola Alao without the consent and authority of the above-named Executrix/Executors does so at his or her own risk.

“For the avoidance of any doubt, no sale, lease and/or transfer of any property comprised in the above-named estate can be valid without the consent of all the above-named Executrix/Executors duly sought and obtained”.

No member of the family of the late industrialist was ready to speak on the issue when contacted at the weekend.

Attempts by one of WP Correspondents to speak with a prominent son of the late industrialist and former Commissioner for Youth and Sports in Governor Abiola Ajimobi regime in Oyo State, Mr. Abdul Farouk Arisekola Alao, also proved futile as his Media Aide said he had travelled outside the country.

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