5 Months After Michael Ibru’s Death, Children Engage In Legal Tussle Over Property

Five months after the death of frontline businessman Chief Olorogun
Michael Ibru, 16 of his children are in a legal tussle over their paternity and
his multi-billion naira assets.
One of his sons, Oboden Ibru, has approached the Igbosere High Court,
Lagos, for a declaration, among others, that he and his 15 other siblings are
entitled to the estate of their father.
In a counter-claim, one of the late Chief Ibru’s daughters, Janet Ibru,
urged the court to declare that only persons whose paternity are confirmed by a
diagnostics centre in the United States are entitled to an equal share of the

Oboden’s suit was filed February 8 by Chief Bolaji Ayorinde (SAN) but
has not been assigned to a Judge.
The defendants are Oskar Ibru, Peter Ibru, Emmanuel Ibru, Gloria Ibru,
Elaine Ibru-Mukoro, Elvina Ibru, Mamemo Ibru, Janet Ibru, Obaro Ibru, Vivi
Ibru-Stankov, Edesiri Ibru, Christiana Ibru, Jero Ibru, Vikwesiri Ibru, Gabriel
Ibru and the Probate Registrar, High Court of Lagos State.
The claimant is seeking an order declaring that a Memorandum of
Understanding (MOU) of January 2, 2001 is valid as to the distribution by way
of gift of the late Ibru’s assets to both “Ovuone” and “Ivetu”.
He asked the court to declare that the properties listed in the MOU
belong in their entirety to “Ovuone” being gifted jointly and several times to
“Ovuone” in the lifetime of the late Chief Ibru.
Such properties include No. 1, Marine Road, Apapa, Lagos; 47, Marine
Road, Apapa; 49, Marine Road, Apapa; 52, Marine Road, Apapa; 5,7,9 Emotan Road,
Apapa; 3,5,7 Ladipo Oluwole, Apapa; Daska House; Blomfield Court; 33, Michael
Ibru Boulevard; 6, Louis Solomon Close, Victoria Island, Lagos and 5/7, Queens
Barracks Road, Lagos.
Others are No. 20, Queens Drive, Ikoyi, Lagos; 6, Kensington Park
Gardens, London; Starcross Farm; Hillcrest Apartment; Zabadne Plot, Abuja;
Maitama Plots, Abuja; Maroko Plots, Lagos; 7, Randle Close, Apapa, Lagos; all
shares in Oceanic Bank; Oteri Holdings Limited’s shares in Minet Nigeria
Limited; Oteri’s shares in Ibachem and the portion of Ibafon land occupied by
Ibachem and Ovwian land.
The claimant is also seeking a declaration that the judgment delivered
by Justice John Tsoho of the Federal High Court, Lagos on April 17, 2014
remains valid and subsisting, having not been set aside by any court of
competent jurisdiction.
Oboden also asked for an order appointing himself, seventh defendant,
Christiana, first defendant, Oskar and eighth defendant, Jero, as
administrators of the Ibru estate and an order directing them to apply to the
16th defendant for the grant of letters of administration for the estate.
An order of the court appointing Messrs. PricewaterhouseCoopers Limited
to conduct a forensic audit of the shareholdings and assets, whether real or
personal, belonging to the estate of the late Ibru in Oteri Holdings and any
other company in Nigeria or anywhere such may be located, discovered or found
in the world and submit such report to the Registrar of the court within 90
days of the order and the cost of such exercise be paid by the administrators
so appointed herein.
The claimant is seeking an order directing the administrators to divide
the assets into 16 equal shares and that same be given to all the 16 surviving
children of the late Ibru.
But in a counter-claim, eighth defendant Janet urged the court to
declare that all matters pertaining to the estate be adjudicated in Nigeria as
well as a declaration that she is entitled to a refund of all expenses,
including the $48,000 incurred by her in defending the law suits of the second
Furthermore, she is seeking an order of the court directing the
administrators of the estate of the late Ibru to refund to her, the expenses
incurred in taking care of the late Ibru during the final year of his life.

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